Estonia’s real GDP will continue to decline by 0.3% in 2024 but will increase by 2.8% in 2025, according to Swedbank’s latest macroeconomic forecast, ERR reports. The bank expects the current recession in Estonia to end in the middle of 2024. Moderate growth will return in 2025, driven by stronger domestic demand and exports. Annual…
Lithuanians are the biggest supporters of Ukraine in the Baltic States, according to a Eurobarometer poll, BNS reports. As many as 95% of Lithuanians agree with providing humanitarian support to people affected by the war in Ukraine, compared with 91% in Latvia and 89% in Estonia. Another 93% of Lithuanians, 87% of Latvians, and 77%…
Estonia’s GDP declined by around 3% over a year in the fourth quarter of 2023, according to Statistics Estonia’s flash estimate, ERR reports. Robert Müürsepp, team lead of national accounts at Statistics Estonia, said that the current recession has slowed down compared to preceding quarters. Compared to the third quarter of 2023, the GDP remained…
The Estonian Educational Personnel Union (EHL) has ended a nationwide strike of teachers and accepted the government’s proposal allocating an additional EUR 5.7mn to raise teacher salaries in 2024, ERR reports. Under the agreement, the minimum salary for general education teachers will rise by EUR 17 to EUR 1,820 per month. Also, collective negotiations will…
Estonia ranked best and Latvia worst in the Baltic States on Transparency International’s latest Corruption Perceptions Index, LSM reported. Estonia ranked 12th out of 180 countries worldwide in 2023, which was up from 14th place in 2022. Lithuania ranked 34th (33rd) and Latvia 36th (39th). Estonia scored 76 points on the index in 2023, which…
International credit rating agency Fitch Ratings has affirmed Estonia’s long-term foreign-currency issuer default rating at A+ with a stable outlook, ERR reports. The rating reflects Estonia’s strong governance standards and institutions, low public debt, and net external creditor position, Fitch stated. At the same time, Estonia’s lower income per capita and small economy expose the…
The state-run development agencies of the three Baltic States have signed an agreement to increase bilateral and trilateral cooperation, ERR reports. The agreement will allow the Estonian Centre for International Development (ESTDEV), Latvia’s Central Finance and Contracting Agency (CFLA), and Lithuania’s Central Project Management Agency (CPVA) to share information and expertise more effectively. The three…
The deputy speaker of the Estonian parliament, the Riigikogu, former prime minister Jüri Ratas, announced that he has quit the Estonian Centre Party (Keskerakond) and joined the Fatherland (Isamaa) party, ERR reports. He said that the values of the Centre Party’s leadership no longer coincided with his own. Ratas was replaced as party chairman by…
Estonia and Latvia have joined several other countries in suspending funding to the United Nations Relief and Works Agency (UNRWA), ERR and LETA reported. The move comes after allegations that several members of UNRWA’s staff had taken part in the Hamas terrorist attack against Israel on 7 October 2023. The Estonian and Latvian foreign ministries…