Construction of the Turba-Haapsalu-Rohukula railway is to cost approximately EUR 65 million, the Ministry of Economic Affairs and Communications estimates. In May 2017, the Estonian government decided to finance with EUR 7.6 million the first stage of the Haapsalu railway, connecting Riisipere to Turba; this stage is to be completed next year. It appears from…
Inflation in Estonia was registered at 3.2% in November, placing it among the three EU member states with the highest inflation last month. The annual inflation rate of the euro area was down by 0.3%, to 1.9% in November, while inflation among EU member states was down by 0.2%, to 2%. The annual rate of…
The 2019 state budget recently adopted by the Riigikogu will allow for rescuers’ monthly salaries to be increased by an average of 23.6%, to EUR 1,000, the Rescue Board said. According to Director General of the Rescue Board Kuno Tammearu, this will be the largest wage increase yet at the Rescue Board, and all agency…
The Riigikogu has adopted Estonia’s 2019 state budget, the total volume of which exceeds EUR 11 billion. Altogether 52 MPs voted in favor and 46 against the 2019 State Budget Act, spokespeople for the Riigikogu said. 23 proposed amendments submitted ahead of the third reading of the state budget bill were reviewed on December 12,…
Luminor notified its clients that as of January 1, 2019 the bank would be closing the accounts of Estonian e-residents. Hannes Oja, head of Anti-Money Laundering at Luminor Estonia, said that based on the Money Laundering and Terrorist Financing Prevention Act, banks were required to update the data of all of their customers. As a…
According to Statistics Estonia, the gross domestic product (GDP) of Estonia grew by 4.2% in the third quarter of 2018 compared to the same period of the previous year, with quarterly growth reaching EUR 6.5 billion at current prices. The seasonally and working day-adjusted GDP increased by 0.4% QoQ. However, compared to the third quarter…
According to Statistics Estonia, in the third quarter the average monthly gross wages and salaries of enterprises, institutions and organizations was EUR 1,291, up by 7.5% YoY. The growth in average monthly gross wages and salaries was 1.1% faster than in the previous quarter. The average monthly gross wages and salaries stood at EUR 1,296…