Sustainable wage dynamics, with increases in line with productivity progress, will continue to be crucial to restoring competitiveness and maintaining a low inflation environment. Encouragingly, Estonia’s economic recession appears to be over, but as you know, this is no time for complacency.
This promise was there to encourage the general public to have as much confidence in the paper money as they had in the intrinsically valuable coins. From then on, it was possible to pay with both metal coins and money made of paper.