OREANDA-NEWS. December 06, 2010. The European Commission raised in its fresh autumn forecast Estonia’s economic growth forecast to 2.4% for the year 2010 and 4.4% for 2011. In 2012 the economy should grow 3.5%.

However, the Commission said in its report that in the long term Estonia's economic growth potential will be only a third of what it was before the recession and it was unclear how much of the production capacity remains after the crisis.

In addition, the Commission said that foreign demand remains the growth engine of the Estonian economy next year and the year after that. Private consumption growth should be positive next year and the year after that but will remain much lower than the pre-crisis level.