Joaquin Almunia: Estonia has to avoid compromises in budget policy

Joaquin Almunia, the EU Monetary Affairs commissioner, told Äripäev that Estonia has to avoid compromises in budget policy. According to Almunia, it is important to stick to the economic and budget policy to exit the difficult times. The fact that the 2.5 pct surplus budget is replaced with the balanced budget this year shows loosening in budget policy, he said. Almunia added that the government has to continue fighting against the inflation by showing example in the public sector wages and encourage private sector to compare salaries with the development in productivity and competitiveness ability in export. In addition, it is important to increase labor market’s flexibility and carry out fast the reformed employment act,... [read full story]