Estonian economy expected to grow 2.6% in 2016

Photo: Postimees/Scanpix
9/16/2015 3:38 PM
Category: Economy

The Finance Ministry announced an economic forecast today, predicting 2.6 percent GDP growth for 2016.

The forecast is important because the 2016 state budget will be based on this figure.

Finance Ministry's prognosis said that there will be a small – 0.2 percent – budget deficit next year.

The average wage is expected to grow by 2.4 percent, taking into account the inflation that is predicted to stay at 2 percent in 2016.

Due to decline in working-age population, the number of people employed in Estonia will start to decrease from 2016.

The tax burden will decrease from 33.5 percent of GDP in 2015 to 33.2 percent in 2016.

S. Tambur

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