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. Last Updated: 07/27/2016

Estonia GDP Forecast

RIGA, Latvia -- The Estonian central bank said Sunday it has raised its estimate for growth in gross domestic product this year to 5.5 percent from a previous forecast of 3.5 percent to 4.5 percent increase.

"The fact that the euro has gone so low has had a good impact on our exports. And it has had a good impact on our GDP growth as well," central bank Deputy Governor Helo Meigas said.

Estonian GDP in 1999 contracted 1.1 percent as industry tried to shake off the effects of the 1998 Russian financial crisis that closed off a major export market.