Cover IMF Staff Country Reports
Republic of Estonia: Staff Report for the 2006 Article IV Consultation
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2006: Issue 418
Language:
English
Publication Date:
29 Nov 2006
DOI:
https://doi.org/10.5089/9781451933963.002
ISBN:
9781451933963
ISSN:
1934-7685
Pages:
46
Keywords:
ISCR; CR; Estonia; BOE's growth projection; deficit; forecast; staff projection; staff appraisal; Maastricht inflation criterion; currency board arrangement; Inflation; Fiscal stance; Baltics
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund
Volume 2006: Issue 418