Estonia has once again improved its position in global rankings of international competitiveness, rising to 26th overall in 2021, and now 22nd according to the latest data issued by Switzerland's International Institute for Management Development (IMD).
The Estonian economy is currently satisfactory but will cool down over the next six months, economic experts said on Tuesday. Consumption is still strong, but the situation for families is deteriorating.
Food prices in Estonia have risen rapidly in recent months, but low-alcohol beverages have thus far been spared from a more rapid increase. Energy and cereal price increases will nonetheless reach beer prices this fall, however, potentially increasing them by up to half.
Director of the Estonian Institute of Economic Research (EKI) Marje Josing said that Estonia is heading into another hugely expensive heating season, which is the result of decades of work not done. Senior economist for Swedbank Liis Elmik believes Estonia should once again offer support to less fortunate families.