Swedbank revises 2022 economic growth forecast downwards
Swedbank has reduced its economic growth forecast for Estonia by half-a-percentage point, saying the current high energy prices are likely to hit households and businesses harder than initially expected.
While Swedbank had previously forecast a 4 percent growth rate for Estonia for 2022, that figure has now been revised to 3.5 percent, ETV news show "Aktuaalne kaamera" (AK).
Swedbank has forecast a 3.2 percent growth rate for 2023, while the bank says it thinks that the Omicron Covid strain will not impact economic activity significantly.
Swedbank says inflation will be 6 percent for this year, slowing to 2.6 percent in 2023.
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