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연구정보

[경제] Republic of Estonia: 2023 Article IV Consultation-Press Release; and Staff Report

에스토니아 국외연구자료 연구보고서 - IMF 발간일 : 2023-07-28 등록일 : 2023-08-20 원문링크

Estonia has made remarkable progress over the past two decades, achieving steady convergence towards more advanced EU economies. However, signs of erosion in external performance have emerged in recent years, reflecting rapid growth in unit labor cost and real exchange rate appreciation. Russia’s invasion of Ukraine triggered a large rise in inflation, supply chain disruptions and slower growth in key trading partners in the Baltic region. In Estonia, these developments, combined with fiscal tightening in 2022, have led to a sharp economic downturn, while deceleration in productivity has exacerbated competitiveness erosion.

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