Republic of Estonia PDF Download

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Republic of Estonia

Republic of Estonia PDF Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 89

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Book Description
Estonia has made remarkable progress over the past two decades, achieving steady convergence towards more advanced EU economies. However, signs of erosion in external performance have emerged in recent years, reflecting rapid growth in unit labor cost and real exchange rate appreciation. Russia’s invasion of Ukraine triggered a large rise in inflation, supply chain disruptions and slower growth in key trading partners in the Baltic region. In Estonia, these developments, combined with fiscal tightening in 2022, have led to a sharp economic downturn, while deceleration in productivity has exacerbated competitiveness erosion.