Republic of Estonia: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of Estonia

International Monetary Fund

No 2026/243, IMF Staff Country Reports from International Monetary Fund

Abstract: A sizable fiscal expansion has lifted Estonia’s growth, but higher energy prices are weighing on the recovery and raising inflation risks. These cyclical pressures are compounded by structural headwinds, including slowing productivity growth, rising unit labor costs, and weakening competitiveness, which have slowed income convergence.

Pages: 71
Date: 2026-09-03
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