June 8, 1998
Prime Minister Siimann met today with the delegation from the EuropeanBank for Reconstruction and Development (EBRD) and told them of Estonia'seconomy and answered their questions.
Siimann touched at length upon the potential dangers to Estonia's economy.
He stated that the Government and the Bank of Estonia have resortedto using some measures in order to prevent economic problems and he cannotexclude the possibility of having to use new measures in the future.
The Prime Minister described in some detail the creation of the stabilizationfund and talked about measures to reduce mindless consumption.
"One of the goals for Estonia is to reduce also public sector spending,"Siimann added.
Siimann told the directors of developments in privatization, next year'sbudget priorities, eurointegration and Estonia's relations with Russia.
Siimann said that the basic aims for Estonia on her way to EuropeanUnion (EU) are harmonization of laws, improvement of officials` qualifications,and development of the country's administrative capabilities.
"We also think that keeping the public informed is very important,"he stated.
Siimann thanked the EBRD directors for good cooperation in funding manyprojects and noted that Estonia has good relations with EBRD both on thestate and private levels.