TALLINN, March 31 (Reuters) - Estonia's economy will shrink by 8.5 percent this year, the Fina
nce Ministry said in new, gloomy forecasts on Tuesday.
The outlook was a revision down from the previous forecast of a drop of 3.5 percent this year and would come after a gross domestic product (GDP) fall of 3.6 percent in 2008.
'Estonia is undoubtedly going through a difficult time,' Finance Minister Ivari Padar said in a statement.
The ministry saw inflation this year slowing to 0.4 percent. In 2008, the annual average rate of price growth was 10.4 percent.
Estonia, like neighbours Latvia and Lithuania, is expecting sharp falls in the economy due to a slide in domestic demand and weak exports due to the global crisis. Keywords: ESTONIA ECONOMY/
(Reporting David Mardiste)) (Tallinn Newsroom, Tel +372 52 90992, email@example.com)
COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.