UNEMPLOYMENT / DEC. 27, 2012
version 15, draft 15

Estonian Strategy for Competitiveness

On 5 November 2009 the Government of Estonia

The aim of the Government is to come out of the economic crisis as rapidly and strongly as possible. Therefore, there are less general measures for boosting internal consumption and maintaining the current economic structure and more specifically targeted measures to support public investment and employment, develop export potential among Estonian enterprises and keep the public balance within reasonable margins.

Taking into account the changed economic environment and considering the new opportunities and challenges, the following objectives are top priority:

1) conservative macroeconomic policy with the aim of keeping the public deficit within the limit of 3% of GDP, joining the Euro area in 2011 and maintaining low public debt levels in order to be able to sustain high investment levels and a favourable level of taxes in the medium and long-term perspective;

2) raising the export potential of enterprises primarily by improving the general business environment in order to increase investment and productivity. The aim is to maintain the share of export compared to GDP at its 2008 level. To achieve this, a number of measures are being taken to support export companies. The previous high levels in foreign investment can only be achieved through systematic and sector-based work with potential investors;

3) skills development by increasing the financing of life-long learning, ensuring more resources for continuing education and retraining activities and using the period of lower employment to raise the skills of 50 000 people by at least one level;

4) maintaining employment levels by improving the business environment and stimulating job creation, increasing public investments and providing additional subsidies with the aim of preventing long-term unemployment. The aim is to hold the general rate of employment in 2011 at 63.5% (aged 15–64).

The Estonian Strategy for Competitiveness 2009–2011 is an update to the Estonian Action Plan for Growth and Jobs 2008–2011. It links the latest decisions of the Government with the action plan for growth and jobs and describes the latest plans for the new measures and priorities of the Government.

 

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