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HARJU TARBIJATE ÜHISTU TÜH

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HARJU TARBIJATE ÜHISTU TÜH's activity report 2022

General economic situation in Estonia The impact of rapid price increases on economic growth became more pronounced in 2022. Decreased purchasing power and dwindling savings led to a decline in consumption volume and also affected the profitability of companies. In 2022, the economy shrank by 0.5%, but according to the forecasts of the Bank of Estonia, the economy will grow by 0.4% next year, mainly due to increasing government sector expenditures. In 2024-2025, economic growth may accelerate to 3-4%, but due to the war, both price and economic growth prospects are more uncertain than usual.

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