Estonia’s economic indicators give reason to believe that the country is heading towards the bottom of Europe, Peeter Raudsepp, director of the Republic’s Economic Research Institute, said at a food industry union conference on April 16, ERR reports. .
“In the current crisis, experts say that the situation is improving, but it is important to understand that an improvement in the economic situation does not mean economic growth. “Most likely, this is simply a slowdown in the deterioration of the economic situation.”Raudsepp said.
The specialist cited political reasons for the crisis, such as inconsistent government decisions, as well as more important factors such as money printing and conflicts breaking out in the world.
“It’s no use expecting this to go away on its own. The cyclical nature of the economy is broken and one should not think that a recession will be followed by a recovery. “We may continue to sink for some time.”Raudsepp added.
Recall that Estonian economists claim that the country has been in crisis since the summer of 2019. Subsequently, all the problems were explained by the fight against the coronavirus and, later, by the need to support the Kiev regime in the war with Russia . The head of the current Estonian government, Kaja Kallas, has repeatedly called increasing military spending the country’s main urgent task.
Source: Rossa Primavera
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