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EU report: Estonia’s economy is stable

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Estonia’s economic situation is in stable and good condition, according to a recent macro-economic report by the European Commission.

The commission added that there are 16 member countries threatened by macro-economic instability, including Estonia’s close neighbours and important export target countries, Finland and Sweden.

According to the European Commission’s report, Estonia’s international investment position as well as unemployment figures are within the safe level. The debt level of the private sector is still high, though it has decreased considerably during recent years and is now at 129% of GDP.  The commission added that this figure is still pretty high and can be an obstacle to increase credit growth in the future, which might slow down manufacturing growth in the middle-to-long term perspective.

Source: (2013) EL-i aruanne: Eesti majanduse seis on stabiilne. BNS, 13. november.