Indrek Nuume, Head of Corporate Banking and Member of the Board of LHV Pank, told Delfi Ärileht that raising or lowering income tax by 2% has no effect on business, but there are many advantages to the rapid reduction of lending rates.The volume of corporate lending in Estonia is about 10.5 billion euros. The annual increase is about 500-600 million euros. In October, the credit market grew by 5.8%. That’s a pretty good pace considering that growth was typically 2-5% per year between 2009 and 2019. Inflation has been higher in the intervening years, but we are now back to the upper limit of normal growth. Any growth means investment confidence and investment activity.
