Despite the fast escalation of infections at the beginning of the year, GDP is projected to grow by 9.6% in 2021 and 4.5% in 2022, before slowing to 3.8% in 2023. Private consumption, driven by a gradual decline in the household saving ratio, the absorption of EU funds and investment will be the main drivers of growth. Inflation is expected to remain high in 2022.
The top policy priority is to recover strong labour market performance while preparing the workforce for greater use of digital technologies and low-carbon economic growth. Unemployment is expected to remain higher than before the pandemic and several categories of workers risk losing attachment to the labour market.
Estonia ranks already among the top countries in e-government. Citizens can do basically anything online except for a very few things like getting married or divorced and selling or buying real estate. The X-road, the secure communication protocol underlying e-government services, was built on the same principles as the block chain, even before the word block chain was invented.