Chinese Eesti

OECD Raises Economic Growth Forecast to 5.9%


ERR - In its Economic Outlook report, released May 25, the Organization for Economic Cooperation and Development (OECD) raised its forecasts of Estonia's economic growth to 5.9 percent in 2011 and 4.7 percent in 2012.

The figures mark a significant change from the 3.4 percent and 4.1 percent that the OECD had predicted just last month.

The rosier figures come one week after Stockholm-based Nordea Bank changed its 2011 growth forecast to 5.7 percent, up from the 4.2 percent it had predicted in January.

The OECD further predicted that consumer prices will rise 4.6 percent this year, slowing to 3 percent growth next year.

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