Estonian Prime Minister Andrus Ansip said on Tuesday, Dec. 17, when reporting to the parliament about research and development (R&D) activities and government policies in this sphere that “we can be satisfied when R&D spending will form 3 percent of GDP by 2020,” reports Public Broadcasting.
In 2012, Estonia’s R&D spending reached 2.1 percent of GDP. Total spending by sectors of the economy on R&D reached 380.6 million euros in 2012. “Although this is in absolute numbers around 1 percent less than a year earlier, it reflects a long-term positive development direction,” said Ansip.
“Compared to 2007, the total amount of spending has more than doubled. The growth of Estonian R&D activities has been the fastest in the European Union,” said Ansip as reported by the government communication unit.
Ansip said that the state has made remarkable investments in R&D activities over the years and the next step is to create better synergy between research and business sectors.
“We can be satisfied if by 2020, the contribution of the business sector forms two-thirds of R&D spending and the total volume of R&D spending in the country forms at least 3 percent of GDP,” said Ansip.