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Prime Minister Jüri Ratas on the 2018 economic growth indicators
Stenbock House, 28 February 2019 – Prime Minister Jüri Ratas, “Today, Statistics Estonia published comprehensive data on last year’s economic growth. Our hard-working entrepreneurs and employees are to thank for an economic growth of 3.9 per cent, which is even more extensive than we estimated. The increase in the last quarter was 4.2 per cent. Added value increased in most of our important sectors, such as manufacturing, information technology, transportation, and construction.
I would especially like to stress the fact that investments increased at the end of the year, which is a highly positive factor in terms of long-term development. Over the course of the year, investments increased by 3.3 per cent, which is a great result compared to previous years.
Strong economic growth shows that Estonian enterprises were able to expand their activities and that Estonian people are becoming wealthier. Nearly 70% of the working-age population is actively involved in the labour market and labour income has increased rapidly. Information on the average wage of 2018 will be revealed tomorrow.
Yesterday, the European Commission issued the Estonian country report 2018, praising our fast economic growth, efficient tax administration, and favourable business environment. Now is really the best time to address long-term challenges, such as regional inequality and support for innovation. This is the way to ensure that Estonia will continue to have a sustainable and inclusive economic growth.”
The Creative Hub, Tallinn, 14 March 2019 – Estonian entrepreneurs deserve to be recognised for not only coping, but also evolving and succeeding in conditions where global economic growth is slowing down and foreign markets are so unstable, said Prime Minister Jüri Ratas at the Estonian Entrepreneur of the Year 2019 gala, organised by the business advisory and auditing bureau Ernst & Young.