Estonia: Economy expected to improve by end of 2023: EKI

Estonia’s economic climate index stood at -19.4 points in June 2023, which was down by almost 9 points from March 2023, according to the Estonian Institute of Economic Research (EKI), ERR reports. The economic confidence index, which combines both business and consumer sentiment, stood at 78.7 points, which was significantly worse than the long-term average. Nevertheless, EKI’s survey showed that 38% of experts expect the economic situation to improve, while 15% think that the situation will deteriorate. Experts are more optimistic about investments and private consumption, and they expect the economy to improve by the end of 2023. The biggest problems are low demand in both domestic and foreign markets and the long-term shortage of skilled labour.