Estonia Way Ahead: an Example for CEE countries?

posted in: BTA blog, ertsei, vakmajom | 0

The fact that the average wage in Estonia has passed the 1000 Euro is an important milestone while its economy is rapidly aligning itself with the most developed ones in the region.

“The Estonians now have the rule of law, the lowest debt-to-GDP ratio in the EU, a balanced budget, free trade, and a flat-rate income tax — all of which have led to their high economic growth and prosperity. The Estonians now rank globally number 22 out of 152 countries on the Human Freedom Index, number 8 out of 186 economies on the Index of Economic Freedom, and are in the number 1 category in the Freedom in the World report.”

“The quality of their leadership was also a determining factor:  “Estonia has been the most successful of the former communist-controlled countries, in part because of excellent political leadership since independence, including the remarkable Mart Laar — the father of the economic reform, who served as prime minister from 1992-1994, and again from 1999-2002. Mr. Laar, a historian by training, was only 33 years old when he was first elected prime minister. Up to that time, the only economics book he had read was Milton Friedman’s “Free to Choose.” He said that it sounded good to him, “so we went ahead and did it”