Michal says Estonia’s economy is growing twice as fast as the EU average

Estonian Prime Minister Kristen Michal said the country’s economy was growing twice as fast as the European Union average, crediting his Reform Party’s policies. He made the remarks at a party council meeting, ERR reported.

Michal said the party’s plan had put Estonia on a firm growth path despite years of geopolitical and economic turmoil. He said a tax cut implemented by the government had doubled economic growth.

He also said average wages were rising and that people had received about 10% more money in their accounts this year. Consumption had increased, while consumer confidence and retail growth had recovered, he said. Michal added that production and exports were growing, unemployment had fallen to its level at the start of 2020, and inflation had eased.

Michal said the government had raised defence spending to 5% of gross domestic product, arguing that a secure Estonia gave families confidence to plan for the future and businesses the confidence to invest.

Turning to the next election, Michal said the main question would be whether prosperity continued to grow or was taken away from people. He said incomes needed to rise faster than prices and argued that a wealthier Estonia could invest more in education, healthcare, the environment and quality of life.

Michal also said Isamaa and the Centre Party were positioning themselves to form the next coalition and might include the Conservative People’s Party of Estonia if they had the opportunity.