Savings up, spending down

Dec 02, 1999
By Brooke Donald

TALLINN — Estonians are putting in more working hours and making more money in hourly wages than in recent years, but instead of spending their earnings around town, they are putting their extra kroons in the bank. The consumer boom, at its height only a few years ago, has passed, according to Bank of Estonia statistics that show a 20 percent increase in savings in the past 10 months alone. On average, the Estonian household saves approximately 38,000 kroons, about 18,000 kroons per person. The ...

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