Estonian minister: State analyzing support measure for industrial sector

  • 2022-12-14
  • BNS/TBT Staff

TALLINN - The Estonian Ministry of Economic Affairs and Communications is analyzing a possible support measure for reducing the production costs of sectors that have been impacted most by the economic downturn, such as the timber, furniture, engineering and metal industries, Minister of Foreign Affairs Urmas Reinsalu in the capacity of the prime minister said during parliament question time on Wednesday.

Reinsalu said that the government should weigh a broader support package for the economy, including an energy support measure for energy-intensive businesses.

Faster take-up of EU resources is needed for supporting the construction sector, according to the minister.

"Public sector buildings, apartment buildings, renovation of small residential buildings -- we need to rapidly take up EU funds for the next period, they also helped us during the previous pan-European economic crisis. And therefore, I hope that the government will approve the plan for structural instruments for the next period in the form of measures already tomorrow [Thursday]," Reinsalu said.

The minister also spoke about guarantees for major companies and opening new foreign markets for Estonian businesses.

"We need a support package for entrepreneurship, there is no question about that. It needs to be implemented without delay, and I'm certain the government will tackle these discussions in the near future," he added.