TALLINN — A recent poll shows that Estonian entrepreneurs are expecting growth in the country’s economy, although they are careful about raising wages.
Although Estonia’s gross domestic product decreased by 2.3 percent year-on-year in the first quarter of 2010, the poll shows 61 percent of the entrepreneurs expect the country’s GDP to rise by 1 or 2 percent this year. The poll shows optimism about the manufacturing and more than [private_supervisor]50 percent of the answered that this will affect the GDP growth the most.
However, 80 percent of those questioned agree that the salaries will not change this year, and 56 percent will not plan any changes in the number of employees in their companies, while only 15 percent are planning to hire more staff. Estonia’s unemployment increased alarmingly in the first quarter of this year, up to 19.8 percent.
KPMG Estonia carried out the “Majanduse Pulss 2010” study in April, questioning entrepreneurs, typically small business owners, about their opinion about economic growth in Estonia and expected wage and personnel trends this year. KPMG received 163 questionnaires with closed questions.
“60 percent of the questioned expect a couple of percent rise. They also expect that the flow of foreign investments will continue despite Estonia’s advantages as a possible investment area compared to other Central and Eastern European countries,” Andri Jegers, chairman of the board of KPMG Baltics told the press. [/private_supervisor] [private_subscription 1 month]50 percent of the answered that this will affect the GDP growth the most.
However, 80 percent of those questioned agree that the salaries will not change this year, and 56 percent will not plan any changes in the number of employees in their companies, while only 15 percent are planning to hire more staff. Estonia’s unemployment increased alarmingly in the first quarter of this year, up to 19.8 percent.
KPMG Estonia carried out the “Majanduse Pulss 2010” study in April, questioning entrepreneurs, typically small business owners, about their opinion about economic growth in Estonia and expected wage and personnel trends this year. KPMG received 163 questionnaires with closed questions.
“60 percent of the questioned expect a couple of percent rise. They also expect that the flow of foreign investments will continue despite Estonia’s advantages as a possible investment area compared to other Central and Eastern European countries,” Andri Jegers, chairman of the board of KPMG Baltics told the press. [/private_subscription 1 month] [private_subscription 4 months]50 percent of the answered that this will affect the GDP growth the most.
However, 80 percent of those questioned agree that the salaries will not change this year, and 56 percent will not plan any changes in the number of employees in their companies, while only 15 percent are planning to hire more staff. Estonia’s unemployment increased alarmingly in the first quarter of this year, up to 19.8 percent.
KPMG Estonia carried out the “Majanduse Pulss 2010” study in April, questioning entrepreneurs, typically small business owners, about their opinion about economic growth in Estonia and expected wage and personnel trends this year. KPMG received 163 questionnaires with closed questions.
“60 percent of the questioned expect a couple of percent rise. They also expect that the flow of foreign investments will continue despite Estonia’s advantages as a possible investment area compared to other Central and Eastern European countries,” Andri Jegers, chairman of the board of KPMG Baltics told the press. [/private_subscription 4 months] [private_subscription 1 year]50 percent of the answered that this will affect the GDP growth the most.
However, 80 percent of those questioned agree that the salaries will not change this year, and 56 percent will not plan any changes in the number of employees in their companies, while only 15 percent are planning to hire more staff. Estonia’s unemployment increased alarmingly in the first quarter of this year, up to 19.8 percent.
KPMG Estonia carried out the “Majanduse Pulss 2010” study in April, questioning entrepreneurs, typically small business owners, about their opinion about economic growth in Estonia and expected wage and personnel trends this year. KPMG received 163 questionnaires with closed questions.
“60 percent of the questioned expect a couple of percent rise. They also expect that the flow of foreign investments will continue despite Estonia’s advantages as a possible investment area compared to other Central and Eastern European countries,” Andri Jegers, chairman of the board of KPMG Baltics told the press. [/private_subscription 1 year]
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