Inflation Sinks Eurozone Ambitions

April 2008
Emerging Europe Monitor: Central Europe & Baltic States;Apr2008, Vol. 15 Issue 4, p10
Country Report
The article provides an economic outlook for Estonia in 2008. Annual inflation is expected to begin to decline in the second half and decelerate in 2009 to 4.5 percent by year end as tax hikes pass through the system and the positive output gap decreases. The disinflation process should also be supported by a reduction in global prices of oil. The inflation path may be sufficient for the Estonian government to apply in 2011 for eurozone entry in 2012, but Business Monitor International (BMI) thinks 2013 is more likely.


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