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30.12.2011 Bank of Estonia Budget Nearly 20 Million Euros

ERR - The Bank of Estonia's budget for 2012 is 13.8 percent larger than it was this year, mainly due to increased expenses related to cash.

30.12.2011 Retailer: Christmas Shoppers More Miserly Than in 2008

ERR - Though Estonian retailers generally prospered this Christmas sales period, the average value of their purchases on a per-day basis was less than it was three years ago, according to the director of the Prisma Peremarket chain.

28.12.2011 Tallinn-Taipei Research Axis Aims for Zenith

28.12.2011 Loans Getting Pricier, Says Bank of Estonia

23.12.2011 Estonia's Resilience to Crisis Now Better Than in 2008

21.12.2011 Edward Lucas: Welcome to the Moral High Ground. What Next?

21.12.2011 Ligi: Prepare for Possible Slump in Export

19.12.2011 61% of GDP Generated in Capital Region

ERR - Highlighting the lingering economic contrasts between Tallinn and the rest of the country, new figures from Statistics Estonia show that in 2009, as much as 61 percent of Estonia's GDP was generated in Harju County, where the capital is located.

19.12.2011 Companies, Population Showing Fiscal Restraint, Says Central Bank

ERR - According to the Bank of Estonia, the debt burden of companies and households has decreased significantly this year.

16.12.2011 Estonian American Innovation Award Goes to GrabCad

ERR - US Ambassador Michael C. Polt and Speaker of Parliament Ene Ergma announced the winner of the first Estonian American Innovation Award at a ceremony today.

16.12.2011 Survey: Crisis-Hit Estonians to Spend Less on Christmas

ERR - It may not exactly be the Grinch that stole Christmas, but the economic situation is expected to have an impact on Estonian spending habits this season - two thirds of the population is planning to splash out less on the holiday this year than last, a survey by Danske Bank has found.

15.12.2011 Economic Growth Predictions Waning

ERR - Ernst & Young (E&Y), an auditing company, downgraded Estonia's economic growth predictions for next year, citing declining exports resulting from the Eurozone debt crisis.

15.12.2011 Unions, Employers Shake Hands on Minimum Pay Deal

ERR - Trade unions and employers came to an unwritten agreement to raise next year's minimum monthly salary to 290 euros, up from the current 278-euro mark established in 2008.

15.12.2011 Central Bank Lowers Economic Forecast

ERR - The central bank has changed its forecast for growth next year to just 1.9 percent and now says it is not ruled out that Estonia could join the continent in a downturn.

14.12.2011 Per Capita GDP Lands Estonia 22nd in EU

ERR - Last year’s per capita gross domestic product of Estonia amounted to 64 percent of the EU average, placing the nation on the 22nd position among the 27 member states.

14.12.2011 Expert: Discard 'North' Versus 'South' Split in EU Crisis Thinking

ERR - The watershed between two main interest groups in the European debt crisis does not so much run between the archetypical "North" and "South" as between those in favor of cutting costs and those who benefit from inflation, says banker and financial expert Indrek Neivelt.

12.12.2011 Swedbank Dismisses Instability Rumors After Bank Run

ERR - Swedbank said claims circulating in Latvia, asserting that the bank is in financial trouble, are baseless."The bank's stability has been confirmed by financial supervision agencys in each of our markets," spokesman Mart Siilivask told uudised.err.ee. "The most recent European financial stress tests also show that Swedbank's stability and capitalization is strong."

12.12.2011 Trade With Russia Looks Up

ERR - In October, year-on-year exports of goods grew by 23 percent and imports by 26 percent at current prices. Growing trade with Russia was the main contributor to both trends, Statistics Estonia reported.

12.12.2011 Finance Ministry: EU Structural Funds to Estonia Soon to Be Restored

ERR - The Ministry of Finance is expecting the payment of the European Union’s structural funds to Estonia to be restored in the upcoming weeks.

09.12.2011 Rail Line Passes Necessary 'Baltic Cooperation' Stage

ERR - The three Baltic ministers responsible for transport have signed a memorandum of intent to develop Rail Baltic, the high-speed railway project that could one day reconnect Tallinn with Warsaw.

09.12.2011 State Budget Drafted on 3 Percent Growth Scenario Passes

ERR - The 2012 state budget was passed in Parliament today by a vote of 55-44, with a 2.1 percent deficit that will be covered from reserves.

09.12.2011 Business Community Unhappy with Cuts for Vocational Education

ERR - The Chamber of Commerce and Industry has announced it opposes the government's plan for implementing the vocational education development plan because the Cabinet is not allocating enough funding for the programs.

07.12.2011 EC Accepts Lower Free Carbon Credit Level

ERR - The five-year-long dispute with the European Commission regarding allowable greenhouse gas credits has come to an end.

07.12.2011 Monthly Consumer Price Index Levels Out

ERR - According to Statistics Estonia, growth of the consumer price index was 0.1 percent in November compared to October and 4.2 percent compared to a year ago.

07.12.2011 Ligi: Populist S&P Underestimates Estonia

ERR - Finance Minister Jürgen Ligi called out the Standard & Poor's rating agency for taking a populist approach when it yesterday promised - in the event that the euro debt crisis is not quelled - to downgrade credit ratings for basically the whole Eurozone.

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