Even though salaries are notably higher and unemployment lower in Estonia compared to its southern neighbours, the country’s economic growth will lose out to both Latvia and Lithuania in the coming years. Analysts name slower growth of investments and private consumption as the reason.
Swedbank expects the Estonian economy to grow by 1.5 per cent in 2016, while it expects growth figures of 2.1 per cent in Latvia and 2.5 per cent in Lithuania. The bank forecast annual growth at 2 per cent as recently as April.
Chief economist at Swedbank Tonu Mertsina said t...
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