"Being pessimistic is not a sustainable choice and can definitely not be an alternative for business people," said Estonia's Minister of Finance, Maris Lauri, at SCCE's member Danske Bank's 3 February Business Seminar on the Estonian Entrepreneurship Environment Today and Tomorrow.

"However, there are reasons for a certain amount of pessimism on the outlook for the upcoming economic environment. Not so long ago, the economic scenarios could be divided in most likable, highly likable, possibly likable and unlikely. Nowadays all scenarios seem to be likable. The optimal outcome depends on us all being optimistic on the future!" concluded Maris Lauri.

"While it lasts, the current low oil price might boost the Baltic economies by 0,5 - 0,7%," said Ivar Pae, Head of Baltic Banking at Danske Bank.

"This might potentially outweigh the negative effect of the slow-down in the Russian economy. The Russian embargo on food and agricultural products has an effect on all Baltic countries and is most damaging to Lithuania, putting at risk 1,7% of the Lithuanian GDP," continued Ivar Pae.

Current issues having an impact on the economic environment will be further highlighted in the coming issue of focus, the magazine of the Swedish Chamber of Commerce in Estonia.

On behalf of the SCCE Supervisory Board, I would like to thank Danske Bank for taking the initiative and inviting our members to their Business Seminar on the Estonian Entrepreneurship Environment Today and Tomorrow.

Sincerely,

Kristiina Sikk

SCCE Ombudsman