Ansip: Estonia can still become one of 5 wealthiest European countries

25.02.2011, 16:59

Prime Minister and chairman of the Reform Party, Andrus Ansip confirmed his belief that it is still possible for Estonia to become one of the wealthiest nations in Europe.

Speaking on ERR radio, Ansip said that according to the IMF data, Estonia’s economic growth over the past decade has been an average 4.82 percent a year, which is the highest in the EU.
He said that there is no reason for anyone to fall into despair because of the global and free market cycles and that every financial boom is followed by decline.

Countering often-heard criticism, Ansip said that growth of GDP is not merely a goal in itself for him and his party, but a prerequisite in order for old-age pensions to increase and social services to become of better quality and more diverse.

He said that scaring people with threats of pension systems vanishing soon is nonsense, adding that today's economic growth gives us confidence that pensions will not leave people at risk of poverty even in the year 2050. "The pension system will not go anywhere. Pensions can only increase," Ansip said.

Talking about tax policy, Ansip said that lowering of the unemployment insurance tax rate would be the most sensible move as soon as budget allows it.