Governor of Eesti Pank Andres Lipstok welcomed at the central bank the best performers at the 6th Interactive Social Studies Olympiad. The central bank Governor discussed the Estonian economy with the Olympiad winners, answered questions and awarded them with Eesti Pank souvenirs.

The young social studies experts took the opportunity to ask the central bank Governor about topical economic issues. Andres Lipstok explained both the impact of the global economy on Estonia and the foundations of the Estonian monetary system.

“One of the most important challenges facing Estonia is to rebalance the country’s expenditures and revenues in longer term. Keeping the required expenditure-to-revenue ratio is very important from the point of view of Estonia’s development and future. If public finances are in balance, it will be possible for Estonia to accede to the euro area. This, in turn, will provide an additional sign of Estonia’s credibility,” Lipstok explained.

In addition to the reception by Governor of Eesti Pank, the visitors were given an overview of Eesti Pank’s history and tasks. They were also shown the premises of Eesti Pank and the functioning of the cash sorting desk. The visit ended with a free discussion on various economics and banking related topics attended by several specialists from the central bank.

In previous years the Olympiad winners have been congratulated and awarded by the President of the Republic.