The government is expecting a 3% budget deficit due to the impact of the coronavirus and the crisis, which followed it, Dmitri Jegorov, undersecretary of Tax and Customs Policy at the Ministry of Finance, has said. Jegorov said: “We reckon with a fall of 3% in the government sector, which means hundreds of millions of…
In June, the producer price index of industrial output increased by 1.7% MoM, but decreased by 2.3% YoY, data from Statistics Estonia showed. Eveli Sokman, leading analyst at Statistics Estonia, said the producer price index was on the rise again after a long time. “In June compared to May, the producer price index was affected…
Swedbank’s earnings in January-June were EUR 88 million. Compared to the first half of 2019, earnings dropped by EUR 9 million, which could mostly be attributed to increased credit losses. The bank announced that due to restrictions set to alleviate the spread of COVID-19, a drop in consumption and a decrease in pension fund management…
Cargoes transported on the infrastructure of the state-owned Estonian railway infrastructure company Estonian Railways in the first six months of 2020 declined by 20.8% YoY, to 5.46 million tons. The largest commodity group was fertilizer, which was transported in the total amount of 3.2 million tons, up by 7.6%. Estonian Railways (Eesti Raudte) CEO Erik…
The economy will not be restored to its pre-coronavirus crisis state, the Ministry of Economic Affairs and Communications’ deputy secretary general for economic development Viljar Lubi has declared. “On the one hand, this is impossible because it is unsustainable and no country is even trying to do that. At the same time, there is a…
Although the government decided last week to allocate EUR 4 million to cover costs for renewable energy instead of raising prices, there is still an estimated EUR 9-million shortfall not covered for producers of renewable energy. There is now a decision to be made if support for those production fees should be allocated out of…
Exports and imports in Estonia both declined by a quarter YoY in May, government agency Statistics Estonia reported. Imports from China did however rise slightly, driven mainly by consignments of personal protective equipment from the country during the coronavirus pandemic. Evelin Puura, leading analyst at Statistics Estonia, said trade decreased the most with EU Member…