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raw materials at a competitive price. that every person in Estonia will be demand, according to the Central African
The domestic industry is also affected worse off," said Välja. States Bank (BEAC) economic outlook.
by the so-called forest reform—the He also pointed out that cheap The bank's report also highlights that
draft law on forest, nature protection Russian and Belarusian wood is in poor road conditions and disruptions

and climate-proof economy—which high demand elsewhere in the world in electricity supply in forested areas
does not support the economy or and cannot be sold in Europe due to are hindering the sector's development.
competitiveness of Estonian companies. sanctions. These markets are out of This bleak forecast comes amid a
"Instead, they are trying to fix how Estonia's reach, the CEO said. progressive increase in export taxes on
much we are losing as an economy. In logs and minimally processed wood in
an already very difficult situation, the Cameroon timber production Cameroon. This tax hike has already
Estonian economy and the country's expected to decline as decreased dampened the activity of some local
budget, which is in the red, will thus demand forestry operators.
be burdened even more. In their current Forestry activities in Cameroon are The government says the higher

form, these bills mean that the Estonian expected to decline between July and export taxes are preparing for a ban
economy will get worse, which means September 2024 due to decreased on log shipments from the CEMAC

ROOTED IN EXCELLENCE. DRIVEN TO SERVE.

ENQUIRY NO. 802