Since our last quarterly report we have become more optimistic about Estonia''s near-term growth. Thecountry is ''ahead of the curve'' as far as the eurozone recovery is concerned, and set to benefit fromrelatively strong consumer and investment spending. A fiscally prudent government is doing its bit as well,reducing the deficit in a gradualist manner. As a result we now estimate 2012 GDP growth at 3.2% (from2.4% previously) and we forecast 2013 growth at 3.3% (up from the previous forecast of 3.0%). Of course,a corruption scandal is undermining the popularity of the Reform Party, the senior member of the rulingcoalition, and there is a risk of a shake-up within the ...
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