TALLINN - Estonia’s economy is set to grow by 2.5 percent next year, new research from the International Monetary Fund (IMF) shows. Consumer prices are expected to grow 3.5 percent in 2013 and 2.8 percent in 2014, reports ERR.
Predictions for unemployment are set at 8.3 percent for 2013 and 7 percent for 2014. Economic growth fell below expectations in the first half of the year, resulting in cuts in the projections of banks and financial institutions.
The IMF also predicted the Estonian economy to grow by 1.5 percent in 2013.
The organization also cut its 2013 forecast for the world’s economy, lowering it to 2.9 percent, down by 0.3 percent since its last assessment in July. For next year, the organization is predicting growth of 3.6 percent.