[46] Of these measures, roughly 6% worth of GDP (gross domestic product) was liquidity support in the form of public loans and loan guarantees, and 2% was direct grants, i.e. (that is) solvency support.
Due to these measures, Estonia’s debt-to-GDP (gross domestic product) ratio had reached 25% at the end of 2020 – which remains the lowest value among OECD (Organisation für wirtschaftliche Zusammenarbeit und Entwicklung) countries and well below the average of 94%. [47] This short review of Estonia’s economic history teaches us two main lessons.