The Estonian perspective

  • 2009-01-07
Ulo Kaasik is head of the Economics Department at the Bank of Estonia. Here, he gives his predictions and forecasts for the coming year.How long and how deep do you anticipate the current economic crisis to impact on Estonia?The current forecast of GDP is for a decrease at just under 5 percent and we also expect a substantial increase in unemployment. But from the bright side we have seen very fast economic correction in the past quarter. This gives us quite excellent hope that we will meet our targets by the beginning of 2010 and enter the eurozone by 2011.How will Estonia pull i...
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