S&P revises Estonia view to positive

S&P said it revised its outlook for Estonia to positive from stable.

“Estonia's economic recovery has gained strong momentum over the past several months. After a relatively shallow contraction in 2020, aided by a combination of less-stringent domestic health restrictions, effective fiscal support, and resilient external demand, we currently expect real GDP to grow by well over 5% this year. Although fiscal support measures during the pandemic increased actual and expected deficits in 2020-2021, policy space remains ample. We believe general government debt, net of liquid assets, will approach only 10% of GDP over the next three years, the lowest level in the E.U.,” S&P said in a press release.

The agency also affirmed Estonia’s AA- long-term foreign- and local-currency credit ratings.

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