OREANDA-NEWS. December 03, 2012. The Organization for Economic Cooperation and Development (OECD) has become the latest institution in recent days to raise its predictions for Estonia's economic growth, pegging it at 3.1 percent for 2012 and 3.7 percent for 2013.

Projections in the OECD's previous outlook report in May had put the two figures at 2.2 percent and 3.6 percent, respectively.

In its November report, released today, the organization said it expected growth to accelerate next year as improving external conditions give a boost to exports.

"While public investment will contract, private investment will pick up, driven by rising capacity utilization and the planned modernization of energy and transport infrastructure. Private consumption growth will be underpinned by increasing employment and wages," the report said.