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Estonian GDP to Grow 5.9% in 2011 on External Demand, OECD Says

Estonia’s economy may expand 5.9 percent this year as increased competitiveness boosts exports, the Organization for Economic Cooperation and Development said.

Gross domestic product is likely to rise 4.7 percent next year as growth becomes more broad based due to increased employment, the OECD said in its May 2011 Economic Outlook released today.

Consumer prices may grow 4.6 percent this year and 3 percent next year, the OECD said. The government’s fiscal deficit will be about 0.5 percent this year and 1.7 percent next year, the Paris-based organization said.

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