Estonian Economy: who is right now?

As time passes by and the Estonian state budget gets the dimensions of a small piece of cake, controversial views of the future of national economy started to emerge. Controversial as – as usual – Edgar Savisaar plays the role of the bad guy and tries to freeze the raising optimism.

While the OECD economic forecast and the World Bank pictured a positive future for the economy of the country predicting economic growth and entry into the Euro zone in 2011, the Mayor of Tallinn, Edgar Savisaar warned that Estonia must be ready for a long crisis.

Savisaar stated that as time passes, Estonia is more affected by the global economic situation.

In the other hand, the World Bank said that Estonia will be the next country to join Euro. Besides Nordea Bank AB has qualify the project as a “realistic dream” and the International Monetary Fund stated that the country is “well on its way”. Also the OECD foresees an economic growth of 3, 9% for 2011.

And optimism does not come only from outside the borders as also BNS recently issued a report awarding the sustainability of Estonian economy and showing how its flexibility made it get one of the best results in the EU in terms of ability to cope with the situation.