Analytics, Economics, Employment, Estonia, EU – Baltic States, GDP

Next year’s outlook is only a little better – according to the Commission’s estimations, Estonia’s unemployment rate in 2011 will be 14.6%.

The European Commission noted that the economic climate will improve slightly and the main motor for the economic recovery will be exports, prompting the Commission to predict a growth of 1% for the year 2010. The expected growth in 2011 in Estonia is 4%.

The wages will not be growing in 2010 – a decline is rather more expected. In 2011, the pay level in Estonia is likely to grow slightly.

Along with the improvement of the economic climate, an increase in the consumer price index is expected. The European Commission predicts that this year, the prices in Estonia will grow by 1.4% while in 2011, the consumer price index will grow by 2%.

The projected budgetary deficit in Estonia in both 2010 and in 2011 will be 2.4%.