Government tax policy seems randomThe government's hectic tax policy has finally been given a clearer outline: taxes that will enter into force next year have been decided. Experts say, however, that the big picture looks random, which will not make for a good end result.Economy
ICT pulling economic growthEconomic growth of 2.7 percent in the final quarter of 2016 took many analysts by surprise. Experts highlight the rise of the information and communication technology sector as the new locomotive of growth in Estonia.Economy
Tax hikes in the pipelineThe general outline of the new coalition's tax policy had more or less taken shape behind closed doors by yesterday evening. It is very probable promises for the coming years will be covered with the help of new consumption taxes, and social and income tax hikes.Economy
Initiatives need to be implemented soonThe prime minister's economic development working group, headed by Erkki Raasuke, presented its report to the public and the incoming coalition yesterday. The working group was paradoxically called to life by outgoing Prime Minister Taavi Rõivas, while the fruits of its labor will now benefit his three biggest competitors.Economy
Center, IRL, SDE: Estonia needs fresh ideasEstonia's Center Party, Social Democratic Party (SDE) and the Pro Patria and Res Publica Union (IRL) said on Wednesday evening after launching coalition consultations that the new government plans to be open to and consider everybody's good ideas.Local News
Cbank: Estonia's 2015 economic growth slowest of past 6 yrsIn 2015 Estonia's economic growth was the slowest of the past six years, remaining below the long-term potential of the country, the Bank of Estonia said in its economic overview on Wednesday.Economy
Chief of Danske: pension investors need not worryLast year, Danske Bank begun the switch to corporate banking in Baltics and successfully so says its head in Estonia, Ivar Pae. As related to sale of Danske Bank pension funds to LHV the clients need not worry: the fund will be managed well even during times of transition i.e. as long as the transition is completed, he says.Economy
Work group to hunt elephants hindering economy of Estonia Prime Minister sets sights on catching up with Nordics, no deadlineSummonsing the economic experts, Prime Minister of Estonia Taavi Rõivas is after ideas on how to reach the Nordic livings standards while avoiding the setting of a date.Economy
Euro didn't raise the prices after allFive years ago, soon after the retailers said euro would not raise the prices, the statement turned into a joke among the people. Just before the switch, chamber of commerce and industry initiated a campaign aimed at avoiding unsubstantiated rise of prices of goods and services while the euro was being adopted in 2011.Economy
Editorial: no need to panic, no cause to frolicAt change of year, we look back and we look ahead. As shown by the traditional Postimees prediction by economists and an overview of 2015, we have no need for panic while a basis to euphoria is absent as well.Opinion
2016 in economy: expect boredomThough the year now behind us was filled with some sharpness it looked (macro)economically rather dull and LHV economist Heido Vitsur, twice winner of Postimees economic forecast, expects more of the same in 2016.Economy
Weekend ahead smells like shopping spree brewingRapid wage rise and prices long level or even lowered have served to feed consuming boom for another year and in high likelihood the weekend to come features frenzied spending in malls and open air Christmas markets.Economy
Interview: Korea hopes to present 5G options in two short yearsIn merely two years the global e-leader South Korea hopes to be the world's first to equip people with G5 technology and the rapid digital growth may be key to reunification of Koreas in our lifetime, interior minister Jong Sup Chong says in brief interview to Postimees tech portal while visiting Tallinn.Economy
National Audit Office dissatisfied with governmental efforts to develop economyThe chronic ills of Estonian economy have been overshadowed by positiveness of macroeconomic indicators but haven't gone anywhere, Auditor General Alar Karis writes in annual report.Economy
Editorial: 34,000 young Estonians busy doing nothingA glance at the latest statistics seems to say it is all uphill on the labour front. And yet, in National Audit Office yearly report, the arrow this time points to structural labour market problems. Why? Is it justified?Opinion
Estonia emerges as Baltic laggardTwo summers ago as it was already known that Latvia was joining the euro, consultancy EY Estonia head Ivar Kiigemägi predicted this was Estonia's last year with fastest growth in eurozone. He was right.Economy
E-commerce waiting for Common European ClickSelling goods and services into other EU states, smaller e-commerce enterprises bump into lots of obstacles. Top officials in Brussels say a large part will be removed near-term, and digital single market will cause European economy to grow once again.Economy
New budget head sees trouble ahead in economy of EstoniaAs Estonia's veteran budget watchdog Andrus Säälik assumed post as permanent Estonian adviser at OECD in Paris, his chair in September was filled by Sven Kirsipuu with 18 years at finance ministry under his belt. Tomorrow, state budget undergoes its first reading at Riigikogu. To mark the occasion, we thought we'd ask him how Estonian economy is doing?Economy
Soc Dems demand add-ons to coalition treatyHaving convened yesterday, Soc Dem board opted to continue talks with partners-i-government in order to enter additional clauses deemed important during August.Local News
Swedbank raises Estonia's economic growth estimate to 2.1 pctSwedbank has raised its economic growth forecast for Estonia to 2.1 percent from 2 percent it offered in January.Economy
So it’s here — deposit interests drop to zeroShould one wish to deposit his savings at SEB, say, and enter the bank website, no interest rate would be above zero. All euro deposits with fixed terms up to three years are at zero interest. No interests by the bank even for Swedish kronor deposited.Economy
Big pension funds regain market shareWith LHV pension funds mightily grabbing market share of late, and those of Nordea a bit less mightily, this past year the biggies Swedbank and SEB have started to snatch it back.Economy
High wages are hitting Finland hardThe Finnish welfare state is wobbling as the high salaries – or, actually, the continually high salaries despite the economic slump – have rendered the economy uncompetitive.Economy
Creation of coalition to take timeThough on homestretch with initial discussions on priority topics, top Reformer Taavi Rõivas says the parties will need weeks till coalition agreement begins to take shape.Local News
In issues of security, unityReform chairman Taavi Rõivas said that they, Soc Dems, IRL and the Free stand united regarding vital importance of allied relations in NATO as well as enhancing capacity of Estonian national defence. Thus, the coalition discussions on security and defence proved harmonious.Local News
World Bank forecasting Estonia to have smallest economic growth in Baltic cos in 2015The World Bank in its fresh Global Economic Prospect which is published twice a year is forecasting Lithuania to have the highest economic growth among Baltic countries this year and Estonia to have the lowest.Economy
Editorial: risks realised, in Russian economyIn economic activities, any entrepreneur and investor needs to consider certain risks. These may be market risks, political risks, geographical risks or even force majeure. In some countries, these risks are lower, and higher in others.Economy
Swedbank: Reasons behind economic growth in Baltics slowing down are structuralEconomic growth is slowing down in the Baltic countries and reasons behind this are structural -- a declining population and insufficient investment, Swedbank writes in its Baltic Sea Report.Economy
Finmin: Estonia should be happy with economic growth number in current environmentEstonia's economic growth could be stronger but taking into account the economic environment the country should be happy with the present growth, Estonia's new Finance Minister Maris Lauri said.Economy
FinMin forecasts 1.5 pct economic growth for 2014After a change in the time series of the gross domestic product Estonia's 2014 economic growth could total 1.5 percent, the Ministry of Finance forecasts.Economy
Cbank: Economic growth is supported by consumption, manufacturingAccording to a flash estimate published by Statistics Estonia on Tuesday the gross domestic product of Estonia in the third quarter increased by 2.1 percent on year and by 0.2 percent compared to the previous quarter, while annual growth of manufacturing and retail sales accelerated which points to an increase in Estonia's economic activity, the Bank of Estonia reports.Economy
Sanctions no big damage to EUEuropean Commission Deputy Secretary-General Henrik Hololei says repercussions from Russian sanctions do show most in EU agriculture, but financial indicators reveal technology to be worst affected.Economy
Cbank: Russian sanctions have little impact on Estonian consumer prices so farThe Russian import restrictions have made things harder for Estonian food producers and the impact of this has reached producer prices by now, yet it has had only a limited effect on consumer prices so far, the Bank of Estonia said in its comments on inflation data for October.Economy
Car sales boosted by tax amendment drawing nighIn all probability, today’s ECOFIN meeting will approve a car VAT amendment to enter into force on December 1st. The upcoming amendment has had an effect on car sales – in September, 19 percent increase was spotted year-on-year. For October, the rise was 14.4 percent.Economy
Swedbank raises Estonia's 2014 growth forecast to 2 pctSwedbank has raised its economic growth estimate on Estonia for this year from 0.8 percent to 2 percent.Economy
Editorial: central bank saving the eurozone economyEuropean Central Bank led by its president Mario Draghi, saviour of the euro two years back, is keeping up strong stimulation of eurozone’s stagnating economy and demonstrating determination to save it from deflation trap. As decided by ECB council yesterday, the base interest is down to the non-existent percentage of 0.05, and deposit interest 0.2 below zero. Also, they are in for a massive purchasing of assets.Opinion
The United States and Estonia - NATO Allies and Global PartnersPresident Obama met with Estonian President Toomas Hendrik Ilves and Estonian Prime Minister Tavi Roivas in Tallinn, Estonia on September 3. The visit reinforced the close ties between the United States and Estonia, which are rooted in our shared values, ideals, and interests.Local News
Near-zero economic growth now predictedApril saw finance ministry lower 2014 GDP growth forecast from 3.6 to 2 percent. According to what they released yesterday, it’s now down to mere 0.5. And, in risk-scenario, 0.3 is the number.Economy
The budget brings quite a headacheMoney «pre-eaten» by costly coalition promises and nearly nonexistent economic growth.Economy
In the 2nd quarter economy increased 2.2%According to the flash estimates of Statistics Estonia, the gross domestic product (GDP) of Estonia increased 2.2% in the 2nd quarter of 2014 compared to the same quarter of 2013.Economy
Estonians increasingly prosperous by businessWith Estonia’s economic growth sluggish last year – and sub-zero since 1st quarter of 2014 – household financial assets have performed a decent year-on-year rise.Economy
ECB acts decisive in deflation threatEven before stepping into office, European Central Bank president Mario Draghi was nicknamed Super Mario. Now, nearly three years into his term, the ECB council under his leadership has managed to act decisive on several occasions. For starters, two years ago, eurozone was saved from breaking apart, or, at least, from a very bad crisis. Now, the central bank is set to do battle for boosting economy and defeating deflation.Economy
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