Estonia: Swedbank growth estimate unchanged

According to the Swedbank Economic Outlook released on April 6, the bank has left the 2017 GDP growth forecast for Estonia at 2.2%, while unemployment is expected to increase to 7.6% this year. According to the bank’s forecast, Estonia’s GDP is expected to grow by 2.2% this year and by 2.8% next year. Household consumption…

Estonia: Port of Tallinn cargo flow down in 2016

On January 24, Port of Tallinn’s Supervisory Board got an overview of the company’s activity and preliminary performance results for 2016, according to which Port of Tallinn’s cargo flow decreased by 10%, number of passengers increased by 4%, total revenue amounted to EUR 111 million and operating profit to EUR 49 million. According to preliminary…

Estonia: healthcare costs up

Healthcare costs have increased by 397 million euros at current prices over the 2009-2015 period, 98 million euros of which fell into 2015, according to the National Institute for Health Development’s (TAI) newly-pubished analysis “Estonian healthcare costs 2015”. In 2015 state health insurance, i.e. the Estonian Healthcare Insurance Fund (EHIF), accounted for 64.8%, household co-financing…

Estonia: electricity network fees to be lowered

The Competition Authority of Estonia released a conclusion that the cost of electricity distribution services of electric grid operator Elektrilevi was not adjusted to their current costs and should be lowered by 6.7%. Because network charges make up 50-55% of the consumer price of electricity, the price of electricity for the average consumer should drop…

Estonia: MPs pass series of tax changes

The members of Riigikogu passed on December 19, a series of tax changes pushed for by the new Estonian government that set forth increasing excise tax for fuel, light alcohol and raising considerably level of income exempt from income tax. The proposals adopted by 55 votes for and 37 against cancel the 0.5% cut in…

Estonia: Tekhnolift to supply EUR 3.378 million worth of equipment for Brest Garbage Plant

Estonia’s Tekhnolift will supply EUR 3.378 million worth of special equipment from European manufacturers for the upgrade of the state-owned company Brest Waste Recycling Factory, a company official reported. They plan to start the upgrade in spring 2017. Brest Waste Recycling Factory has been operating since November 2010, providing sewage water treatment and recycling solid…