Estonias Archives - Rvpg media

Estonia’s political parties want to raise defense spending to 3-6% of GDP | News

Thursday’s “Aktuaalne kaamera” spoke to all parties expected to clear the 5 percent threshold at next March’s election: Reform, EKRE, Center, SDE, Isamaa and Eesti 200, which according to current polling will win seats for the first time. All parties believe the target should be 3 percent, with several calling for it to be higher. … Read more

Expert: Given Estonia’s high inflation rate, economic recession is modest | News

Oja told ERR that based on quarter-to-quarter growth, we have been in a fairly steep decline for two quarters in a row, starting in the second quarter. “This is the result of both high inflation and supply chain problems. The branches of the industrial sector that used to import raw materials from the east especially … Read more

Estonia’s IT industry starting to feel effects of economic crisis | News

On Tuesday it was reported that Pipedrive will lay off 143 employees and approximately half of the redundancies will be made at the company’s Tallinn and Tartu offices. Agur Jõgi, Pipedrive’s chief technology officer, said momentum has slowed in the IT sector. The cuts will mean laying off 13 percent of the firm’s workforce, he … Read more

Central bank: Estonia’s balance of payments down on year to Q2 2022 | Economy

The net international investment position showed that at the end of Q2 2022, the external liabilities of Estonian residents exceeded their external assets by €7.2 billion, or 21 percent of GDP of the previous four quarters, the central bank says. External assets of Estonian residents increased over the year by €0.8 billion more than the … Read more

Estonia’s job vacancies remained above 13,000 in second quarter | News

The number of job vacancies was the highest in wholesale and retail trade (2,422), education (1,837), and manufacturing (1,705). Argo Tarkiainen, analyst at Statistics Estonia, said vacant posts accounted for 2.1 percent of the total number of posts in the second quarter of this year. Thirty-five percent of all job vacancies were in the public … Read more

Estonia’s tech sector weathering downturn better than most | Economy

If anything, there has been some growth, as firms look for efficiency gains via improved IT systems, AK reported. Hannes Linno, development director at Perforce Software, a major international which, among other things, develops software configuration systems, told AK that: “When the economy contracts, firms start looking for ways to save money and how to … Read more