Estonia’s Economic Growth Should Be Greater, Kallas Says ({{commentsTotal}})

Siim Kallas.
Siim Kallas. Source: (Postimees/Scanpix)

The economic growth of the European Union is spurred by domestic consumption and is modest, the European Union economic forecast showed and while Estonia’s predicted growth exceeds that of the average growth of the Eurozone, Estonian Commissioner Siim Kallas thinks it should be higher.

The European Commission predicts a 1.9 percent growth for this year and a 3 percent growth for 2015 for Estonia, the average for the Eurozone is 1.2 percent for the current year and 1.7 for 2015, ETV reported on Monday.

The economy of the entire European Union is expected to grow by 2 percent in 2015, EC Vice President Siim Kallas said, presenting the forecast in Brussels on Monday instead of Olli Rehn, the Commissioner of Monetary Affairs.

Kallas told ETV that Estonia’s growth should be greater when compared to Latvia and Lithuania that have caught up with Sweden. He admitted that on the whole, the situation in Estonia still looks relatively good.