Despite that, Estonia still has fundamental economic links with Russia, and the 1998 Russian economic crisis led to a recession in Estonia the following year. Previously, after the initial post-independence shock, the economy had grown steadily throughout the 1990s. A recovery is now under way, with 2001 growth forecast at 4 per cent. In 1999, Estonia joined the World Trade Organsiation, adding to its previous membership of the IMF, World Bank and the European Bank for Reconstruction and Development. Like its Baltic neighbours, it seeks membership of the European Union and has the advantage of being in the so-called 'first wave' of six aspirant members who may expect to join by 2005.
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