Estonian Economy By Maarja NoorkõIv

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Estonian Economy By Maarja NoorkõIv

  1. 1. Estonia's Economy Maarja Noorkõiv
  2. 2. Introduction <ul><li>Youthful phenomen </li></ul><ul><li>Reform process </li></ul><ul><li>GDP-gross domestic product </li></ul><ul><li>Consumer price inflation and chart </li></ul><ul><li>Population ageing and decline </li></ul><ul><li>Emigration </li></ul>
  3. 3. Youthful phenomen <ul><li>Part of the explanation for this early 'youthful' phenomenon can be found in the nature of Estonia's transition to independence </li></ul><ul><li>In 1991 a group of young ethnic Estonians entered into country's affairs </li></ul><ul><li>Many of these people were indeed only in their twenties and early-thirties at the time </li></ul>
  4. 4. Reform process <ul><li>It went far and fast in Estonia </li></ul><ul><li>In 2005 total government accumulated debt constituted just 4.6% of GDP </li></ul><ul><li>It has also involved legal system and civil service </li></ul>
  5. 5. GDP-gross domestic product <ul><li>Estonia's GDP grew in 2006 at an annual rate of 10.7% </li></ul><ul><li>over the 5 year period from 2002-2006 averaged something in the region of 8.5% </li></ul><ul><li>Estonia has even been doing well when compared with its other East European EU accession counterparts </li></ul><ul><li>can see from the chart below </li></ul>
  6. 6. Consumer price inflation <ul><li>has not been dramatically high </li></ul><ul><li>has been running in the 3 to 4.5% range </li></ul><ul><li>can also be seen from the chart below </li></ul>
  7. 7. Chart
  8. 8. Population ageing and decline <ul><li>Estonia is in decline </li></ul><ul><li>A part of the problem is that there are less children being born </li></ul><ul><li>And another part is that there is a negative net balance on migration(3.2 people per thousand leaving in 2006) </li></ul><ul><li>Deaths became greater than births in Estonia in 1992 </li></ul><ul><li>Estonia has a cash-for-children policy </li></ul>
  9. 9. Emigration <ul><li>11.000 Estonians, out of the total population of 1.35 million, were working abroad in 2005 </li></ul><ul><li>Those leaving have mainly been badly needed young vocational professionals </li></ul><ul><li>One obvious solution for Estonia might be to start attracting workers from other EU countries </li></ul>
  10. 10. Thank you very much for your attention <ul><li> </li></ul>

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