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Republic of Estonia: 2021 Article IV Consultation-Press Release; and Staff Report

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  • International Monetary Fund

Abstract

Macroeconomic performance and buffers were strong when the COVID-19 pandemic hit. Economic and social restrictions instituted in March 2020 helped slow new infections and mitigate negative health outcomes but triggered a deep decline in activity in Q2:2020. The slump was followed by a strong rebound in Q3 as the restrictions were eased. With the resurgence of the virus, pressures on the health system peaked in late-March 2021 and eased after a new round of restrictions. Going forward, the outlook is for a near-term economic recovery subject to large two-way risks. The strength and durability of the recovery hinges on the evolution of the health situation and the extent of economic scarring from the pandemic.

Suggested Citation

  • International Monetary Fund, 2021. "Republic of Estonia: 2021 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2021/160, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2021/160
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    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=462375
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    Cited by:

    1. Ahunov, Muzaffarjon & Kakhkharov, Jakhongir & Mozumder, Pallab, 2022. "Income and household energy consumption in a transition economy: The case of Uzbekistan," Energy, Elsevier, vol. 254(PA).

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