The Estonian Ministry of Finance has improved the country's GDP growth forecast this year to 3.1% from 3%, BNS reports. According to the ministry, in 2020 the economy will slow down to 2.7%, and by 2024 it will be at the level of 2.5%. The ministry’s report says that the growth rate of the Estonian economy will slow down in the long run against the backdrop of a global slowdown, but export growth will continue due to the competitiveness of Estonian enterprises, and their investments will also increase. In 2019, inflation is expected to be 2.1%, with its value remaining around 2% in subsequent years. The Ministry of Finance predicts a rise in consumer prices due to an increase in the cost of food and services. The Bank of Estonia expects consumer prices in 2019 to grow by 2.1%.