Estonia: IMF More Optimistic

BusinessEconomy ♦ Published: October 18, 2012; 00:42 ♦ (Vindobona)

The Estonian economy is expected to expand by 2.4% this year.

Estonia: IMF More Optimistic / Picture: ©

In spring, IMF forecasted an economic growth rate of 2.0%. Now, the forecast was increased to 2.4%. The Bank of Estonia estimates GDP growth to come at 2.6% this year. Next year, IMF predicts a 3.5% growth rate.

Estonia was hit extremely hard by the economic crisis in 2008/09. After the Estonian GDP contracted by 14.0% in 2009, the economic growth rates came at 3.4% and 8.3% in…