Estonia expects to undershoot growth
The Bank of Estonia's Economic Review, published Thursday, forecast domestic growth to remain below pre-crisis levels for the next two years despite an increase in productivity.
The central bank said that although the economy was considerably more efficient as a result of higher productivity per employee post-recession, productivity growth had not been fully offset by the rapid fall in employment. Growth levels would remain below pre-crisis levels even in 2012.
Although some sectors had improved
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