wiiw Forecast Reports
ESTONIA: Public investment and private consumption will drive growth
publication_icon
in: Cautious Upturn in CESEE: Haunted by the Spectre of Uncertainty
wiiw Forecast Report No. Spring 2017, March 2017 , pp. 69-71
ESTONIA
In the next two years, we will see an improvement in the terms of trade with Western markets; meanwhile exports to Russia have already started to recover. Household consumption, backed by a rapid rise in minimum and overall real wages, continues to be the strongest driver of economic activity in Estonia. Moreover, an upswing in public investments should also speed up economic activity in the short run. GDP growth is projected to rise: from 2.2% in 2017 to 2.3% in 2018 and 2.4% in 2019.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Estonia