Nordea raises Estonia's economic growth forecast to 2.5 percent

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Nordea's economic growth forecast has increased slightly for 2017. Source: (Alexander Demianchuk/TASS/Scanpix)

Nordea has raised its economic growth forecast for Estonia for this year to 2.5 percent, up from the 2.4 percent estimate published in December.

Estonia's GDP is expected to grow 2.9 percent in 2018, it appears from the fresh Economic Outlook published by Nordea.

The country's consumer price inflation is expected to hit 3 percent this year, compared to the 2.3 percent included in the December forecast. The inflation estimate for 2018 is 2.4 percent.

The unemployment rate is estimated to be 7.6 percent this year, up 0.4 percent compared to December's forecast. In 2018, unemployment is expected to climb to 9.4 percent.

The gross average wages and salaries are estimated to rise 5.5 percent this year and 5.6 percent in 2018. Compared to the December forecast, the new growth estimate is higher by 0.2 percent.

Editor: Aili Vahtla

Source: BNS

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