MoF Joins Foreign Banks in Projecting 2014 Growth at Under 1% ({{commentsTotal}})


In a projection to be released Monday, the Ministry of Finance will call for 0.5 percent economic growth this year followed by 2.5 percent next year.

Prime Minister Taavi Rõivas provided the preview at the Cabinet press conference on Thursday.

Rõivas characterized the figures as positive given the international economic context. As recently as the spring, though, the MoF had forecasted 2.0 percent and 3.5 percent growth, respectively, for 2014 and 2015.

Earlier this week, SEB fine-tuned its economic forecast for this year and next, while Swedbank lowered theirs.

SEB said growth would be 0.5 percent in 2014, just as it did three months ago, but put next year's growth at just 1.8 percent instead of 2.3 percent.

Swedbank said the economy would grow by 0.8 percent this year, down from 1.8 percent. It lowered its forecast for 2015 by 0.7 point to 2.3 percent.

SEB said 2014 inflation would be 0.1 percent and Swedbank, 0.3 percent. Next year would be 1.6 percent and 2.5 percent, the respective banks said.


+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.

Ermamaa: The fine art of passing the buck

Admit nothing, blame everyone: those most closely involved in the Ermamaa case don’t need arguments, writes ERR News editor Dario Cavegn.