EU Funding Brightens Estonia's Outlook, Says PM ({{commentsTotal}})

Source: Photo: Postimees/Scanpix

The EU's new seven-year budget will have a positive effect on Estonia's stumbling economy, as initial negotiations on funding levels were successful, said Prime Minister Andrus Ansip in Parliament today.

“We have 5.89 billion euros at our disposal during the next seven years,” Ansip said, adding that support for the Rail Baltic project will probably be added to that figure.

Ansip said that Estonia, with EU funding, is at the forefront of countries with respect to its level of state investments as a percentage of GDP. He added that even without EU funds, Estonia would be an example to many.

“Other nations have had the opportunity to make quality investments consistently during the last century, or even longer, but Estonia has invested seriously only in the past 20 years and our need for larger investments is greater than in Western Europe,” Ansip said.