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Estonia: towards a swift current account rebalancing

Author(s): Baudouin Lamine, European Commission

Estonia: towards a swift current account rebalancingpdf(113 kB) Choose translations of the previous link 

Volume 7, Issue 6, 14.10.2010

This study focuses on the most important drivers of the swift current account rebalancing which is taking place in Estonia and considers the possible way forward.

After very large deficits in the boom years (2005-2007), Estonia's current account balance turned positive in the downturn, as domestic demand severely contracted. It should shift back into deficit when domestic demand eventually resumes, with a speed and extent dependent on the country's further efforts to increase productivity and competitiveness.

(Country Focus 6. October 2010. Brussels. PDF. 8pp. Tab. Graph. Ann. Free.)

KC-XA-10-005-EN-N (online)
ISSN 1725-8375 (online)

JEL classification: E31, E32, E44, F32, F41

The views expressed in the ECFIN Country Focus are those of the authors only and do not necessarily correspond to those of the Directorate-General for Economic and financial Affairs or the European Commission.

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