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Swedbank: Estonia's transition to euro in 2011 "highly likely"
Juhan Tere, BC, Tallinn, 14.01.2010.
Print version
Print versionEstonia will adopt the euro in "highly likely", Swedbank said in an economic forecast published on Thursday, Äripäev.ee/LETA reports.
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The bank says that fulfilling the Maastricht budgetary criterion is the most complicated one for the state, but the bank estimates that this criterion was fulfilled both in 2008 and 2009.
The government has made very big efforts and there is no reason to think that after the budgetary criterion is fulfilled, the wish of balancing the budget would be abandoned, the forecast states.
Swedbank estimated that Estonia’s public sector budget deficit in 2009 was around 2.7% of GDP.
It said that the public sector budget can reach balance and surplus in 2012-2013.
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