Many major banks in Estonia have not changed interest rates on home loans amid the coronavirus pandemic to date, though they are paying more attention to those customers who are seeking homeloans at a time when many planned purchases have been put on hold. One bank, Luminor, says it has cut its interest rates. “A…
The lifting of restrictions implemented for the duration of the emergency situation will be based not on economic but rather health-based logic, and as there is currently no certainty regarding how the coronavirus will continue to spread, no strategy exists for exiting the standstill either, said Ministry of Economic Affairs and Infrastructure Deputy Secretary General…
The government decided on March 19 to launch a EUR 2-billion package of measures to boost the economy and mitigate the effects of the crisis caused by the coronavirus, Prime Minister Juri Ratas (Center) said. “The members of the government gave their approval to a package of measures of EUR 2 billion, which represented nearly…
Several supermarket chains across Estonia have reduced their opening hours to help stop the spread of the coronavirus (COVID-19) and have introduced measures to limit the exposure of their staff. All Rimi stores across Estonia will be open from 10 a.m. to 9 p.m., the retailer has announced. “We have made the decision to reduce…
Approximately 80 workers will be made redundant when AS Kunda Nordic Tsement cement company stops producing clinker later this month. The decision was taken by the supervisory board after a surge in the price of CO2 emissions. The plant in Laane-Viru County uses old production technology, which creates a relatively high level of carbon emissions.…
In connection with the novel coronavirus outbreak in Estonia, online stores are seeing a significant increase in orders. Barbora, the online store owned by retailer Maxima Group, is also now offering contactless home delivery to its customers in order to combat the spread of the virus. If a customer has chosen contactless delivery at online…
The aim of the government’s economic policy to deal with coronavirus should be to prevent a wave of bankruptcies among companies and a rise in unemployment caused by temporary problems, the Bank of Estonia said in a report released on March 12. “The economic policy objective of mitigating the impact of the virus is to…