Finance Ministry predicts 9.5% GDP growth this year

Finance Minister Keith Pentus-Rosimannus.Photo: Liis Treimann

According to the summer economic forecast of the Ministry of Finance published on Thursday, the Estonian economy will grow by 9.5% this year and 4% next year.

According to the ministry’s calculations, the structural deficit of the government sector, which will form the basis of next year’s budget, will remain at 4.4% of GDP this year, and will decrease to 2.3% next year.

The Ministry of Finance predicts a rise in prices by 3.8% in 2021 and by 3.7% in 2022.

Salaries this year should grow by 7%, in 2022 – by 6.7% and in 2023 – by 6%.

According to the Ministry of Finance, the deficit in the nominal budget position of the government sector this year will be 3.3%, and in 2022 – 1.8%.

Source: by

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