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The Estonian Ministry of Finance has improved the country's GDP growth forecast this year to 3.1% from 3%, BNS reports. According to the ministry, in 2020 the economy will slow down to 2.7%, and by 2024 it will be at the level of 2.5%. The ministry’s report says that the growth rate of the Estonian economy will slow down in the long run against the backdrop of a global slowdown, but export growth will continue due to the competitiveness of Estonian enterprises, and their investments will also increase. In 2019, inflation is expected to be 2.1%, with its value remaining around 2% in subsequent years. The Ministry of Finance predicts a rise in consumer prices due to an increase in the cost of food and services. The Bank of Estonia expects consumer prices in 2019 to grow by 2.1%.
Japan’s Finance Minister Taro Aso expressed worries about the yen’s continual rise, calling it “rapid” and hinting at the strong currency’s impact on exports as Japan struggles through a recession. The yen’s ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
The second quarter likely saw South Korea’s economy hitting its sharpest downturn in over two decades, a Reuters survey showed on Tuesday. This was mainly from the pandemic dragging the labor market, consumer spending, and global export ...
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