The European Bank for Reconstruction and Development (EBRD) has raised Estonia’s economic growth forecast by 0.4 percent to 3.8 percent, thus forecasting Estonia’s economic growth to be the fastest in the Baltic countries this year.
Compared to the bank’s November forecast, Latvia’s economic growth forecast for this year was lowered by 0.6 points to 3.5 percent; next year’s growth is projected to likewise total 3.5 percent.
Lithuania’s economic growth forecast for this year was lowered by 0.3 percent to 3.2 percent, while next year’s growth is projected to total 3.5 percent.
According to the bank’s most recent forecast, Estonia’s economic growth is to total three percent next year.
EBRD stated in its report that growth in Central Europe and the Baltic states (CEB) has picked up considerably in recent years, from an average of 2.9 percent in 2016 to 4.3 percent in 2017, boosted by stronger investment and higher wage growth.
The latest forecasts suggest that economic growth will slow down to 3.8 percent this year and 3.3 percent next year due to the shortage of qualified workforce.
