President, Bank of Estonia Andres Lipstok of Estonia

In preparing next year's budget, nominal economic growth has been projected at 8%, but at the same time growth in expenditure is planned at almost 10%," Governor Andres Lipstok said in a statement.

Estonian central bank governor Andres Lipstok said that continued high inflation would mean Estonia was unlikely to make the switch to the euro before 2010.

Lipstok said the bank expects growth will start accelerating in the second half of this year.

Lipstok said the bank had not anticipated the acceleration of global fuel and food prices in the middle of last year.

criteria, Lipstok said in an interview in Tallinn yesterday.

that since Estonia is that small, only a tiny push might be enough.

adopt ``as soon as possible, he said.

Lipstok said the health of the economy would be bolstered by a strengthening export sector and stressed the need for a flexible labour market.

Of inflation, Lipstok said its rise is inevitable with the fast economic growth.