GDP growth increased somewhat in Q2

Madis Aben, analyst at the Fiscal Policy Department, Ministry of Finance 
According to the flash estimate by Statistics Estonia, Estonia’s annual GDP growth amounted to 1.9 per cent in the second quarter of 2015. Growth picked up compared with the previous quarter but remained below the potential. The generally low economic activity in the eurozone and export problems with Russia are slowing down economic growth.


State Budget 2016

The planned expenditures of the draft state budget for 2016 are 8.9 billion euros, a growth of 4.2 percent or 358 million over the 2015 budget. The general government budget is projected to reach a structural surplus of 0.6 per cent of GDP.

Defence expenditures will reach 2.07 per cent of forecast GDP. This means an increase of 37.1 million euros, or 9 per cent over 2015. The national defence budget of 451 million euros will ensure the development of defence capabilities.Read more

Summer 2015 Forecast

The gross domestic product of Estonia will increase by 1.7 per cent in 2015 and 2.6 per cent in 2016.

Consumer price inflation will be -0.3 per cent in 2015 and will resume to 2.0 per cent in 2016.

Unemployment will continue to fall, with the unemployment rate expected to decrease to 6.5 per cent in 2015 and to 6.3 per cent in 2016.

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