The Impact of The Financial Crisis of 2008
On July 2009, Estonian VAT was increased from 18% to 20%. On 9 August 2011, just days after Standard & Poor's downgraded the credit rating of the United States, it raised Estonia's rating from A to AA-. Among the factors S&P cited as contributing to its decision was confidence in Estonia's ability to "sustain strong economic growth."
Read more about this topic: Economy Of Estonia
Famous quotes containing the words impact, financial and/or crisis:
“If the federal government had been around when the Creator was putting His hand to this state, Indiana wouldn’t be here. It’d still be waiting for an environmental impact statement.”
—Ronald Reagan (b. 1911)
“Just as men must give up economic control when their wives share the responsibility for the family’s financial well-being, women must give up exclusive parental control when their husbands assume more responsibility for child care.”
—Augustus Y. Napier (20th century)
“One theme links together these new proposals for family policy—the idea that the family is exceedingly durable. Changes in structure and function and individual roles are not to be confused with the collapse of the family. Families remain more important in the lives of children than other institutions. Family ties are stronger and more vital than many of us imagine in the perennial atmosphere of crisis surrounding the subject.”
—Joseph Featherstone (20th century)