Decline of Estonia's economy to decelerate to 0.1 pct in 2010 - ministry
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BNS - The fresh economic forecast published by the Estonian Finance Ministry on Thursday shows the country's GDP as declining by 0.1 percent this year and forecasts resumption of economic growth in 2011.
The inflation rate this year is estimated to be 0.4 percent.
According to the updated convergence program, Estonia will meet all necessary criteria for adoption of the euro in 2011. This means price stability, low government debt, curbs on budget deficit and a stable exchange rate in the coming few years.
The purpose of the convergence program is to express the policy of the government of a non-eurozone country in meeting the Maastricht criteria and switching to the common currency.
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Last Updated on Friday, 29 January 2010 08:47 |
