In order to attain the goal set by the Estonian Prime Minister Andrus Ansip, namely, to enter the list of Europe’s top 5 richest countries by 2020, Estonia’s average GDP growth rate should be at least 8%.
Europe’s five richest countries are Liechtenstein, Luxembourg, Norway, Andorra and Switzerland, according to World Factbook data.
Last year, Estonia’s gross domestic product per capita amounted to 14 064 euro, while in Switzerland it is 31 755, Andorra – 33 235, Norway – 43 746, Luxembourg – 60 548, but in Liechtenstein – 90 378 euro.
According to analysts, the economic growth will not hit that high indicators in the near future. Many experts even consider such rapid growth as harmful for Estonia, because it would result in an economic boom, inevitably followed by a recession.
During the Parliament elections in 2007, the Reform Party promised to rank Estonia among the five richest countries in Europe by 2022. Also in 2011, the Estonian Prime Minister acknowledged that this goal still remains a topical issue.
Oh, this does not sound like a feasible goal, however I wish all the best.
Estonia is already at the level of Bulgaria and Romania for salaries and then for two decades at least .