Republic of Estonia: 2018 Article IV Consultation-Press Release; and Staff Report

May 24, 2018

Preview Citation

Format: Chicago

Republic of Estonia: 2018 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2018) accessed November 21, 2024

Summary

This 2018 Article IV Consultation highlights that the economy of Estonia is gathering steam after several years of subdued growth. Real GDP grew by 4.9 percent in 2017, more than double the rate achieved a year earlier. Growth remains broad-based, and supported by strong private and public investment—the latter partly reflecting increased absorption of European Union structural funds—and favorable external conditions. However, output runs above its sustainable level, and supply-side constraints are becoming more binding. The outlook is positive. Over the medium term, growth is set to remain at about 3.5 percent, supported by the continuing recovery of main trading partners, domestic investment, accommodative financial conditions, and continued strong market sentiment.

Subject: Financial derivatives, Financial institutions, Labor, Labor markets, Production, Productivity, Public debt, Wages

Keywords: Baltics, CR, Financial derivatives, Fiscal policy, Global, HICP, HICP inflation, ISCR, Labor market, Liability positions vis-à-vis nonresident, Neutral fiscal policy, Pay, Productivity, Productivity-enhancing investment, Tightening labor market, Wages

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2018/125
Stock No:

1ESTEA2018001
ISBN:

9781484357293
ISSN:

1934-7685

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