Republic of Estonia: Staff Report for the 2006 Article IV Consultation

November 29, 2006

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Republic of Estonia: Staff Report for the 2006 Article IV Consultation, (USA: International Monetary Fund, 2006) accessed November 24, 2024

Summary

Estonia’s commitment to free markets and prudent financial policies has paid off handsomely. Demand pressures and rapid productivity growth have produced strong wage increases and large employment gains. Inflation, while moderate for a fast-converging economy, remains above the Maastricht threshold, and has been pushed up in recent months by rises in nontraded goods prices. Estonia’s economic growth has supported—and been supported by—rapid credit growth, financed increasingly by resource transfers from Nordic banking groups to Estonian affiliates. The macroeconomic impact of EU funds is needed.

Subject: Banking, Expenditure, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt

Keywords: Baltics, BOE's growth projection, CR, Currency board arrangement, Deficit, Estonia, Fiscal stance, Forecast, Inflation, ISCR, Maastricht inflation criterion, Staff appraisal, Staff projection

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/418
Stock No:

1ESTEA2006001
ISBN:

9781451933963
ISSN:

1934-7685

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