Spreading the Estonian Success Story
Finance Minister, Jürgen Ligi, will address the prestigious Centre for Policy Studies in London on 28th September.
Faced with shrinking revenues and an economic crisis in 2008, the IMF forecast that Estonia would have a budget deficit of more than 10% of GDP in 2009 on unchanged policies. Acting decisively the government cut spending drastically, liberalised employment laws and maintained its business friendly tax system.
With strong management and Euro adoption in subsequent years, Estonia today enjoys one of the fastest growing economies in Europe and one of the lowest public debt burdens in the World, whilst maintaining a balanced budget.
The event will give the Minister of Finance the opportunity to outline the context faced by Estonia, the policy choices adopted and the path to successful implementation.