The Institute of Economic Research in Estonia has estimated that the growth rate for the country will be 2.5% this year. 

In the institute’s economic outlook this year, they suggest that exports will reach 12 billion euros, with unemployment finishing the year at 5.7%.

Wages are expected to grow by 3.2% with inflation predicted to be 1%.

Whilst fourth quarter growth statistics are yet to be released, 2015 growth is expected to fall below 2%, significantly lower than 2.9% recorded in 2014.

Hansabank founder, Heldur Meerits has written of concerns for the economy. Writing in Aripaev, he stated there have been only a few ‘meaningful’ foreign investments in recent times, with many of them merely being reinvested profits. 

He says the country’s small size has serious implications for the potential of its research and development sector.

He also wrote of concerns of the country’s politics, red tape and a dwindling entrepreneurial spirit, and how the country might require a crisis to spur it into the right direction.