Throughout the pan-Baltic region in 2023 there was an overriding sense of instability in the legal market. Although there have been projections of GDP growth in 2024, the legal markets across the region continue to grapple with several economic challenges, including the unpredictable cost of energy.
In Estonia, these challenges also include a rise in public debt, a rise in the country’s deficit, a swift reduction in investment, and low government debt. These factors all combined to produce a fall in trade with its main international partners. While 2024 looks brighter in terms of economic growth, this instability is a worry for firms. Investment arbitrations remain low and there has been a lack of large bankruptcies or restructuring matters in recent months.
Subscriber Access
You must be logged in to view full premium content.