Ansip: Estonia Will Be Among 5 Wealthiest European Countries

[Äike]

Ansip: Estonia Will Be Among 5 Wealthiest European Countries (http://news.err.ee/politics/5ffc1bf5-9a39-4a33-8f9d-4a746667b026)

Prime Minister and chairman of the Reform Party, Andrus Ansip confirmed his belief that it is indeed possible for Estonia to become one of the wealthiest nations in Europe.

According to the IMF data, Estonia’s economic growth over the past decade has been an average 4.82 percent a year, which is the highest in the European Union, Ansip reminded the listeners on ERR radio.

He said that there is no reason for anyone to fall into despair because of the global and free market cycles and that every financial boom is followed by decline.

Countering often-heard criticism, Ansip said that growth of GDP is not merely a goal in itself for him and his party, but a prerequisite in order for old-age pensions to increase and social services to become of better quality and more diverse.

He said that scaring people with threats of pension systems vanishing soon is nonsense, adding that today's economic growth gives us confidence that pensions will not leave people at risk of poverty even in the year 2050. "The pension system will not go anywhere. Pensions can only increase," Ansip said.

Talking about tax policy, Ansip said that lowering of the unemployment insurance tax rate would be the most sensible move as soon as budget allows it.

[Eldritch]

Let me play Devil's Advocate for a moment: why are people falling into despair? What are the often-heard criticisms? And why are people worried about being poor when they're old?

[Äike]

Let me play Devil's Advocate for a moment: why are people falling into despair?

They aren't, but he said that the global financial crisis that Estonian has surpassed, is part of the free market cycles.


What are the often-heard criticisms?

Some people(leftists, socialists) say that he and his party only think about the economy and not the people.


And why are people worried about being poor when they're old?

I know old people, but I do not know any old people who would be worried about their financial situation.

...Why do you think at all that old people are worried?

[Eldritch]

...Why do you think at all that old people are worried?

The article seemed to suggest something along those lines. Why would an article about economic growth even mention an entirely unrelated topic anyway otherwise?

[Talvi]

why are people falling into despair?

Because the euro is EVIL!

[Eldritch]

Because the euro is EVIL!

Don't worry. :patpat:

Unlike most evil things, the €uro won't last long.

[Peerkons]

the €uro won't last long.
What makes you think so?

[Eldritch]

What makes you think so?

The Archailects told (http://www.theapricity.com/forum/showthread.php?t=22631) me (http://www.theapricity.com/forum/showthread.php?t=20995).

[Talvi]

Keskerakond claims that we have fallen some 3 spots, instead of risen... As I heard on a radio commercial of theirs.

[Monolith]

What is your country's economy based on, Karl?

[Heretik]

What is your country's economy based on, Karl?

Milk and honey flowing through the gold paved streets of Tallinn obviously. :thumb001:

[Guapo]

Pumping cheap vodka from Estonia into Russia through an underwater pipeline.

[Äike]

Pumping cheap vodka from Estonia into Russia through an underwater pipeline.

...vodka is cheaper in Russia than in Estonia and the opposite is actually done. Smuggling cheap vodka from Russia into rich Estonia.

I do not understand one thing, all Balkan posters from different backgrounds are very interested in Estonian topics and the majority also troll Estonian topics.

[Heretik]

Nah, I'm just trolling you, I have nothing against Estonia.

[Monolith]

I do not understand one thing, all Balkan posters from different backgrounds are very interested in Estonian topics and the majority also troll Estonian topics.
I wasn't trolling.

[Talvi]

Pumping cheap vodka from Estonia into Russia through an underwater pipeline.

You mean into Finland???!!! :confused:

[Guapo]

You mean into Finland???!!! :confused:

or maybe latvija

[Äike]

I wasn't trolling.

Reread my post.

I said that all Balkan members are interested in Estonian topics and the majority also troll them. You represent the sensible/intelligent minority. ;)

[Eldritch]

Reread my post.

I said that all Balkan members are interested in Estonian topics and the majority also troll them. You represent the sensible/intelligent minority. ;)

Most of our Balkanoid friends are sensible and intelligent, in my experience.

[Heretik]

Our Estonian friend here sees all things black and white.

[poiuytrewq0987]

What is your country's economy based on, Karl?

Going to answer this question?

[poiuytrewq0987]

I think it's pretty funny how with all the boasting of how Estonia is going to be super rich when the average income of Estonians per month is 800 euros a month compared to Serbia's 400 euros a month. Not that large of a gap there considering how the Yugoslav wars, the 1999 bombings, and the trade embargo on Serbia during Milosevic rule did a number on our economy.

[poiuytrewq0987]

You could have sold all those Bosniaks and became rich. :)

Not to mention the crippling effect the NATO-led Shiptar occupation of Kosovo is having on our economy. Kosovo is a very rich land with a lot of profitable minerals with mines once in operation until the collapse of Yugoslavia and the Kosovo war.

[Monolith]

I think it's pretty funny how with all the boasting of how Estonia is going to be super rich when the average income of Estonians per month is 800 euros a month compared to Serbia's 400 euros a month.
That means nothing if you don't know anything about the inflation trends and GDP structure, specifically foreign investments and net exports. Also relevant is what kind of fiscal and monetary policy the country pursues. In Estonia's case, they can only determine the former, since they adopted the Euro and forfeit the ability to pursue independent monetary policy.

[Äike]

What is your country's economy based on, Karl?


In November, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (28% of Estonia’s total exports), mineral products (13%), and agricultural products and food preparations (10%).

[Äike]

I think it's pretty funny how with all the boasting of how Estonia is going to be super rich when the average income of Estonians per month is 800 euros a month compared to Serbia's 400 euros a month. Not that large of a gap there considering how the Yugoslav wars, the 1999 bombings, and the trade embargo on Serbia during Milosevic rule did a number on our economy.

Unsuccessful troll is unsuccessful.

From 2000 to 2010, Estonia had the highest economic growth in Europe, even when considering the big GDP drop in 2008 and 2009.

If Estonia continues to have a considerably higher GDP growth than all other European countries, then at one point we will just start passing the countries who weren't completely fucked up by communism for 50 years straight. Portugal and Greece are my first guesses.

As far as I understand, your country is so poor and underdeveloped that you live in the US, thus you aren't even a Balkan person, but an "American". Thus you might feel a bit more touched by overly successful Estonia, than your average European or American.

[Eldritch]

Estonia's economy and its future prospects, people. If you please.

[Monolith]

In November, the biggest share in Estonia’s exports was held by the commodities of machinery and equipment (28% of Estonia’s total exports), mineral products (13%), and agricultural products and food preparations (10%).
Thanks, but I was hoping for more information. ;)

Like this:

Republic of Estonia: Staff Report for the 2010 (http://www.imf.org/external/pubs/ft/scr/2011/cr1134.pdf)

OECD Purchasing Power Parities (http://stats.oecd.org/Index.aspx?DataSetCode=PPPGDP)

Change of the consumer price index (http://www.stat.ee/cpi-calculator/?cpiStartMonth=13&cpiStartYear=2010&cpiEndMonth=16&cpiEndYear=2010&id=32858&cpiCalculate=Calculate)

Population pyramid (http://www.stat.ee/population-pyramid)

From what I see here, it seems your country's economy has rebounded to a large extent after the catastrophe in 2009 (-14% REAL GDP!). Your industry seems healthy enough, with imports just barely exceeding the exports, hence the observed comparative advantages in low and medium technology products. To draw an analogy, Croatia's imports are twice as high as the exports. With some investments into r&d though, you could easily develop the said advantages in hi-tech industry as well, since your country has the existing infrastructure and seems to be hi-tech oriented. However, the inflation seemed to be a serious problem even before you adopted the Euro, and e.g. Germany has had a pretty nasty experience with it. Also, your population structure seems to be in better shape than it was in 2000, but that could be due to population momentum. My few cents.

[Motörhead Remember Me]

As far as I understand, your country is so poor and underdeveloped that you live in the US, thus you aren't even a Balkan person, but an "American". Thus you might feel a bit more touched by overly successful Estonia, than your average European or American.

Isn't the Balkans region the only place in Europe where donkey carts are still somewhat common?

[Monolith]

Isn't the Balkans region the only place in Europe where donkey carts are still somewhat common?
I suppose they are used sporadically, especially in mountainous regions with little or no road infrastructure. Here in Croatia, I've seen donkeys used as tourist attractions many times.

http://t3.gstatic.com/images?q=tbn:ANd9GcTZ9rT4O41q22S3hcjcYsbY_QPZejgho X7tz8gHDf5DcWg5tUafNA&t=1

picture gallery here (http://www.ezadar.hr/clanak/medunarodna-trka-tovara-u-tisnom/90643#main_content)

[esaima]

Prime Minister and chairman of the Reform Party, Andrus Ansip confirmed his belief that it is indeed possible for Estonia to become one of the wealthiest nations in Europe.
LOL Is there anybody in Estonia who is seriously believing it??

[Peerkons]

Explain, please.

[esaima]

Explain it?This is a political slogan, not connected to real life.And even as a political slogan it is old- Estonian PM Ansip told that 4 years ago, before crisis.Or am I a fool?
What should Estonia do for that?
At the current moment the official minimum salary is 278, 02 Euros....Wait for 500 years or discover some very huge oil shales?

[Heretik]

Explain it?This is a political slogan, not connected to real life.And even as a political slogan it is old- Estonian PM Ansip told that 4 years ago, before crisis.Or am I a fool?
What should Estonia do for that?
At the current moment the official minimum salary is 278, 02 Euros....Wait for 500 years or discover some very huge oil shales?

Make Karl your PM - progress and wealth imminent! :D

[Max]

From 2000 to 2010, Estonia had the highest economic growth in Europe, even when considering the big GDP drop in 2008 and 2009.

If Estonia continues to have a considerably higher GDP growth than all other European countries, then at one point we will just start passing the countries who weren't completely fucked up by communism for 50 years straight. Portugal and Greece are my first guesses.

As far as I understand, your country is so poor and underdeveloped that you live in the US, thus you aren't even a Balkan person, but an "American". Thus you might feel a bit more touched by overly successful Estonia, than your average European or American.

I think what my Estonian friend is trying to say is that he misses us! :love-smiley-036:

http://i52.tinypic.com/16by009.jpg

[Max]

I'm sure Estonia can become a wealthy country but common... top 5 in Europe? Population of 1.3million,GDP of 30billion,4-5% gdp growth/year (correct me if im wrong) They can surely achieve high standards of living for their population but I just don't see how they can become an economic power. I think Estonia just suffers from a Napoleon complex.

[Äike]

LOL Is there anybody in Estonia who is seriously believing it??

I do not believe that still will happen during the 2020's, but I believe that it will happen in the 21st century.


Explain, please.


Explain it?This is a political slogan, not connected to real life.And even as a political slogan it is old- Estonian PM Ansip told that 4 years ago, before crisis.Or am I a fool?
What should Estonia do for that?
At the current moment the official minimum salary is 278, 02 Euros....Wait for 500 years or discover some very huge oil shales?

I would say ~35 years instead of 500.


Make Karl your PM - progress and wealth imminent! :D

I have plans in the distant future to become more active in politics, I am currently semi-active, but I would never want to be the prime minister. The prime minister has to carry a large burden.


I think what my Estonian friend is trying to say is that he misses us! :love-smiley-036:

http://i52.tinypic.com/16by009.jpg

Are there any Russians who are nostalgic neo-communists?


I'm sure Estonia can become a wealthy country but common... top 5 in Europe? Population of 1.3million,GDP of 30billion,4-5% gdp growth/year (correct me if im wrong) They can surely achieve high standards of living for their population but I just don't see how they can become an economic power. I think Estonia just suffers from a Napoleon complex.

You do not need a large population for the IT-sector. Skype was invented in Tallinn and only about a dozen people were needed for this project.

[esaima]

Karl: I would say ~35 years instead of 500.

Interestingly: Estonia has been independent for 20 years. In 1991 we were little bit wealthier than Latvia, a bit poorer than Czechia. Now, in 2011, the situation is same, our position hasn´t changed, still wealhier than Latvia, poorer than Czechia.

[Talvi]

Interestingly: Estonia has been independent for 20 years. In 1991 we were little bit wealthier than Latvia, a bit poorer than Czechia. Now, in 2011, the situation is same, our position hasn´t changed, still wealhier than Latvia, poorer than Czechia.

An observation that was made by someone....and he said 25 years after WWII Japan looked/felt kind of like Estonia. Its been only 20 years of recovery for Estonia. So it takes a while to recover from any kind of a "disaster". And the the Soviet era was a total disaster. It takes some time but there is no reason we should think we cant become better.
Among 5 wealthiest European countries... I dont know about that.. but if we want, we can totally get more awesome.

[poiuytrewq0987]

An observation that was made by someone....and he said 25 years after WWII Japan looked/felt kind of like Estonia. Its been only 20 years of recovery for Estonia. So it takes a while to recover from any kind of a "disaster". And the the Soviet era was a total disaster. It takes some time but there is no reason we should think we cant become better.
Among 5 wealthiest European countries... I dont know about that.. but if we want, we can totally get more awesome.

Umm, except Japan had 120 million people whereas Estonia has only like 900,000 to work with? http://www.smileyhut.com/laughing/rofl.gif

[Talvi]

Umm, except Japan had 120 million people whereas Estonia has only like 900,000 to work with? http://www.smileyhut.com/laughing/rofl.gif

You are such a killjoy.

[poiuytrewq0987]

You are such a killjoy.

It's a good thing that you can do something about it. Do you need assistance though? I'm sure you guys are in need of strong, virile males up there.

[Äike]

Interestingly: Estonia has been independent for 20 years. In 1991 we were little bit wealthier than Latvia, a bit poorer than Czechia. Now, in 2011, the situation is same, our position hasn´t changed, still wealhier than Latvia, poorer than Czechia.

Estonians have considerably higher average wages than the Latvians. The average Estonian has a wage that's 20% higher than a Latvian's wage.

[poiuytrewq0987]

Estonians have considerably higher average wages than the Latvians. The average Estonian has a wage that's 20% higher than a Latvian's wage.

Ooh, 20% higher! You better watch out!

[Äike]

Ooh, 20% higher! You better watch out!

You better stop trolling this thread, my American friend.

[Groenewolf]

Ooh, 20% higher! You better watch out!

Actually, excluding other factors, that would mean that Estonia has more money available on average to invest in their economy and from that potentially a higher economic growth in the future.