Dear reader,

Close to a year and a half has passed since the bankruptcy of Lehman Brothers. This landmark has in turn been followed by significant changes in the world economy. Economy of countries is continually unbalanced. Even in the European Union only a few countries meet the criteria of reasonable management - the Stability and Growth Pact.

How is Estonia doing? We accumulated reserves during the good years, we were able to react quickly to the global economic recession and carry out structural changes. Estonian general government debt is the lowest in the EU and the state budget deficit one of the smallest of the European Union. Estonia will probably join the eurozone in 2011. Even the labour expenses are still a number of times cheaper than in Sweden, Finland or Germany.

Consequently, Estonia has excellent prerequisites for further development. We have made an effort to improve Estonia's competitiveness and the estimates for the coming years prove it worthwhile - the European Commission forecasts Estonia will have the highest economic growth in the European Union by the year 2011. Let us make use of this exemplary standpoint and increase our wealth together!

Andrus Ansip
Prime Minister of the Republic of Estonia