natgillin/translations-raw huggingface dataset:
Loans, deposits and the central bank’s gold and foreign exchange reserves covered 59% of the external claims. 
Laenude, hoiuste ja keskpanga kullaja välisvaluutareserv hõlmas 59% välisnõuetest.
Loans, deposits and the central bank’s gold and foreign exchange reserves covered about 52% of the external assets. 
Laenude, hoiuste ja keskpanga kullaja välisvaluutareserv hõlmas ligi 52% välisnõuetest.
Loans, deposits and the central bank’s gold and foreign exchange reserves covered 53% of the external assets. 
Laenude, hoiuste ning keskpanga kulla ja välisvaluutareserv hõlmas 53% välisnõuetest.
Assets related to loans increased the most, by 498 million euros. 
Laenudega seotud nõuded kasvasid enim ehk 498 mln euro võrra.
In terms of loan purposes, the acquisition of real estate for own use prevails for both real estate and other companies (see Figure 2.9). 
Laenueesmärkide lõikes domineerib nii kinnisvara- kui ka muude ettevõtete puhul oma tarbeks kinnisvara soetamine (vt joonis 2.9).
In essence, the loan guarantee is an insurance scheme, inducing the banks to provide funding to small and medium-sized enterprises, whose projects involve a higher risk, thus improving the financing options of Estonian companies. 
Laenugarantii on sisuliselt kindlustusskeem, mis julgustab panku rahastama ka neid väikefirmasid, kelle projektidega kaasneks kõrgem risk ja aitab seetõttu parandada Eesti ettevõtete finantseerimisvõimalusi.
The greatest number of loan guarantee projects originated from Tallinn and North-Estonia. 
Laenugarantiide projekte tuli KredExile kõige rohkem Tallinnast ja Põhja-Eestist.
In the area of business loan guarantees, KredEx operates in compliance with international practices and the Estonian Competition Act. 
Laenugarantiide väljastamisel tegutseb KredEx kooskõlas rahvusvahelise praktika ja Konkurentsiseadusega.
Loan-to-deposit ratio and market- based funding ratio 
Laenu-hoiuse suhe ja turupõhise rahastamise suhtarv
Loan-to-deposit ratio* in EU countries 
Laenu-hoiuse suhtarv* Euroopa Liidu riikides
Loan interest rates were relatively volatile; however some upward trend was noticeable throughout the year, especially in long-term loans. 
Laenuintressid olid suhteliselt kõikuvad, aasta lõikes oli märgatav mõningane tõus, eriti pikaajaliste laenude puhul.
Calculation of loan interests to entrepreneurs takes place according to the monthly invoices submitted to the loan recipient. 
Laenuintresside arvestamine ettevõtjatele toimub igakuiselt laenusaajale esitatud arvete alusel.
Loan interest is calculated for credit institutions according to the schedule set out in loan agreements. 
Laenuintresside arvestamine krediidiasutustele toimub vastavalt laenulepingutes määratud graafikule.
Loan interests are calculated on a monthly basis in accordance with the invoices presented to the loan recipients. 
Laenuintresside arvestamine toimub igakuiselt laenusaajale esitatud arvete alusel.
Interest rates for loans barely changed at all in September. 
Laenuintressimäärad septembris praktiliselt ei muutunud.
Loan interest rates 
Laenuintressimäärad
However, the interest rate on the loan stock is rising and is expected to rise further in the coming quarters. 
Laenujäägi intressimäär on aga juba tõusmas ning selle trendi jätkumist on oodata ka järgnevates kvartalites.
Credit stock growth 
Laenujäägi kasv
average interest rate of loan stock (right scale) 
laenujäägi keskmine intressimäär (parem telg)
Contribution of outstanding credit to domestic demand 
Laenujäägi panus sisenõudlusse
Outstanding credit and investment 
Laenujääk ja investeeringud
total loan stock housing loans stock households' other credit corporate credit 
laenujääk kokku eluasemelaenud majapidamiste muud laenud ettevõtete laenud
total credit stock housing loans stock 
laenujääk kokku eluasemelaenud
loan stock to GDP ratio (right scale) 
laenujääk suhtena SKPsse (parem telg)
loan stock to GDP ratio (scenario of bigger contraction in debt burden; right scale) 
laenujääk suhtena SKPsse laenukoormuse kiirema vähenemise korral (parem telg)
The loan stock increased over the year by 150 million euros, or 2%. 
Laenujääk suurenes aastaga 150 miljoni euro võrra ehk 2%.
Supplementary report on the balance of loans 
Laenujääkide täiendav aruanne
loan guarantee to bank loan, lease and bank guarantee start-up loan guarantee subordinated loan (including technology loan) 
laenukäendus pangalaenule, liisingule ja pangagarantiile stardilaenu käendus allutatud laen (sh tehnoloogialaen)
loan guarantee to bank loan, lease and bank guarantee start-up loan guarantee subordinated loan credit for banks to finance companies 
laenukäendus pangalaenule, liisingule ja pangagarantiile stardilaenu käendus allutatud laen krediit pankadele ettevõtete finantseerimiseks
In year 2008, loan guarantee helped 899 young families in the amount of 122 million kroons, 713 young specialists in the amount of 96 million kroons, and 10 tenants living in restituted buildings in the amount of 845 thousand kroons (Annex 21). 
Laenukäendusega sai 2008. aastal abi 899 noort peret, 122 mln krooni ulatuses, 713 noort spetsialisti 96 mln krooni ulatuses ja 10 tagastatud majas elavat üürnikku 845 tuhande krooni ulatuses (lisa 21).
In 2010, loan guarantee helped 456 young families in the amount of 48.2 million kroons, and 458 young specialists in the amount of 49.6 million kroons. 
Laenukäendusega sai 2010. aastal abi 456 noort peret 48,2 mln krooni ulatuses ja 458 noort spetsialisti 49,6 mln krooni ulatuses.
Guarantees of investment loan were issued in total for 265 million kroons, guarantees of working capital loan or overdraft for 329 million kroons, leasing guarantees for 17 million kroons and guarantees of bank guarantee in total amount of 194 million kroons. 
Laenukäendusi investeerimislaenudele väljastati kogusummas 265 mln krooni, käibekapitalilaenudele ja arvelduskrediidile 329 mln krooni, liisingutele 17 mln krooni ja pangagarantiidele kogusummas 194 mln krooni.
Loan guarantees to investment loans were issued in total amount of 412.1 million kroons, to loans for working capital and overdraft 288.4 million kroons, to leasings 42.6 million kroons and bank guarantees in total amount of 311.2 million kroons. 
Laenukäendusi investeerimislaenudele väljastati kogusummas 412,1 mln krooni, käibekapitalilaenudele ja arvelduskrediidile 288,4 mln krooni, liisingutele 42,6 mln krooni ja pangagarantiidele kogusummas 311,2 mln krooni.
Loan guarantees to bank guarantees were issued in total amount of 18.4 million euros, to loans for working capital and overdraft 175 million euros, to investment loans 14.5 million euros and leases in total amount of 1.2 million euros. 
Laenukäendusi pangagarantiidele väljastati kogusummas 18,4 mln eurot, käibekapitalilaenudele ja arvelduskrediidile 17,5 mln eurot, investeerimislaenudele 14,5 mln eurot ja liisingutele kogusummas 1,2 mln eurot.
Among loan guarantees, during the year 67 start-up loan guarantee agreements were concluded in the amount of 19.4 million kroons. 
Laenukäenduste hulgas sõlmiti aasta jooksul 67 stardilaenu käenduse lepingut summas 19,4 mln krooni.
Among loan guarantees, within the year 69 start-up loan guarantee agreements were concludes in the amount of 1.1 million euros, which made it possible for starting entrepreneurs to obtain financing from banks in the amount of 1.5 million euros. 
Laenukäenduste hulgas sõlmiti aasta jooksul 69 stardilaenu käenduse lepingut summas 1,1 mln eurot, mis võimaldas alustavatele ettevõtjatele pankadest finantseerimist summas 1,5 mln eurot.
Procedure of loan guarantees 
Laenukäenduste menetlemise kord
Quarterly loan losses and net profit 
Laenukahjumid ja pangandussektori netotulem
Expected profit before loan losses and expected loan losses 
Laenukahjumieelne kasum ja laenukahjumid
As loan losses might increase further, it is crucial that banks retain sufficient capital buffers to maintain solvency also in the future. 
Laenukahjumite eeldatava suurenemise juures on tähtis, et pangad hoiaksid piisavaid kapitalipuhvreid, et nende maksevõime püsiks ka edaspidi.
This means that current profits are sufficient to cover loan losses even in the negative scenarios, and the equity of banks would not decrease. 
Laenukahjumite katmiseks piisab seega ka negatiivsete stsenaariumite puhul jooksva aasta kasumist ning pankade omakapital ei vähene.
At the end of March, the stock of provisions for loan losses amounted to 1.6 billion kroons and accounted for 70% of the loans overdue for more than 60 days. 
Laenukahjumite katmiseks tehtud provisjonide maht oli märtsi lõpus 1,6 miljardit krooni, mis moodustas üle 70% üle 60 päeva viivises olevate laenude mahust.
Owing to the write-off of uncollectible receivables, the provisions for loan losses will decrease in 2012. 
Laenukahjumite katteks tehtud provisjonid vähenevad 2012. aastal lootusetute nõuete mahakandmise tõttu, kuid kasumiks pööratakse provisjone ilmselt tagasihoidlikul määral.
Like overdue loans, the provisions for loan losses are in decline due to write-offs. 
Laenukahjumite katteks tehtud provisjonid vähenevad koos viivislaenudega lootusetute nõuete mahakandmiste tõttu.
The reduction in profitability caused by loan losses limits the ability of banks to boost their equity from profits, which could then weaken their resilience against shocks. 
Laenukahjumite tõttu kahanenud kasumlikkus piirab pankade võimalust kasumi toel omakapitali tugevdada, mis võib omakorda väheneda pankade vastupanuvõimet šokkidele.
The drop in loan losses in 2011 has helped to enhance the net profitability of banks. 
Laenukahjumite vähenemine 2011. aasta jooksul on aidanud parandada pankade puhast kasumlikkust.
Credit turnover as a ratio of value added 
Laenukäibe ja lisandväärtuse suhtarv
Loan turnover growth was most affected by large-scale real estate transactions and the issuance of study loans accompanying the start of a new academic year. 
Laenukäibe kasvu mõjutasid eelkõige suuremahulised laenutehingud kinnisvarasektoris ning tavaliselt õppeaasta algusesse koonduv õppelaenude väljastamine.
The drop in loan turnover was caused by a sudden decrease in loan volumes issued to non-resident financing institutions. 
Laenukäibe languse taga oli mitteresidentidest finantseerimisasutustele antud laenumahtude järsk vähenemine.
new lending (without overdrafts) 
laenukäive (ilma arvelduskrediidita)
The turnover of loans other than overdrafts did not change from a year earlier, which was probably partly because there were fewer refinancing transactions. 
Laenukäive ilma arvelduskrediidita aastataguse ajaga võrreldes ei muutunud, mis tulenes osaliselt ilmselt refinantseerimistehingute vähenemisest.
Assets and liabilities of loan capital (EUR million) 
Laenukapitali nõuded ja kohustused (mln eurot)
Claims and liabilities of loan capital (EEK m) 
Laenukapitali nõuded ja kohustused (mln kr)
Loan capital assets and liabilities to foreign direct investors (EUR million) 
Laenukapitali nõuded ja kohustused välismaise otseinvesteerija suhtes (mln eurot)
Loan capital claims and liabilities to foreign direct investors (EEK m) 
Laenukapitali nõuded ja kohustused välismaise otseinvesteerija suhtes (mln kr)
Loan capital assets and liabilities to foreign subsidiaries and associated companies (EUR million) 
Laenukapitali nõuded ja kohustused välismaise tütar-/sidusettevõtja suhtes (mln eurot)
Loan capital assets and liabilities to foreign subsidiaries and associated companies increased slightly (see Table 28). 
Laenukapitali nõuded ja kohustused välismaiste tütarja sidusettevõtjate suhtes kasvasid mõnevõrra (vt tabel 28).
Table 38 provides an overview of loan capital assets and liabilities. 
Laenukapitali nõuetest ja kohustustest annab detailsema ülevaate tabel 38.
Table 38 provides a more specific overview of loan capital claims and liabilities. 
Laenukapitali nõuetest ja kohustustest annab täpsema ülevaate tabel 38.
Table 38 provides a more thorough picture of loan capital claims and liabilities. 
Laenukapitali nõuetest ja kohustustest annab üksikasjalikuma ülevaate tabel 38.
Table 38 provides an overview of loan capital claims and liabilities. 
Laenukapitali nõuetest ja kohustustest annab ülevaate tabel 38.
Loan capital was characterised by extensive outflow of investments. 
Laenukapitali osas toimus ulatuslik investeeringute valjavool.
The position of loan capital decreased by 0.1 billion kroons. 
Laenukapitali positsioon kahanes 0,1 miljardi krooni vorra.
Direct investors granted long- and short-term loans in the total amount of 4.6 billion kroons and the total amount of respective repayments was 2.4 billion kroons (see Tables 24 and 25). 
Laenukapitali saldo kujunes positiivseks: pika- ja lühiajalist laenu saadi otseinvesteerijalt kokku 4,6 mld krooni eest ning nende tagasimaksete kogusumma oli 2,4 mld krooni (vt tabelid 24 ja 25).
Loan growth is mainly slowing down owing to the subdued growth of household loans; the growth rate of consumer credit does not display any clear signs of deceleration. 
Laenukasv aeglustub põhiliselt eluasemelaenude vaibuva kasvutempo tõttu; tarbimislaenude kasvutempo selgeid aeglustumismärke ei näita.
Loan growth in the euro area and in Estonia's neighbours 
Laenukasv euroalal ja naaberriikides
Loan growth in the euro area, Finland and Sweden 
Laenukasv euroalal, Rootsis ja Soomes
Loan growth in Latvia and Lithuania 
Laenukasv Lätis ja Leedus
At the same time loan growth still varied between countries in the euro area and in Estonia’s neighbourhood. 
Laenukasv oli riigiti euroalal ja lähiriikides siiski erinev.
Lending growth overall has remained modest, and in the first months of 2014 the total stock of loans and leases was around 1% larger than a year earlier and the indebtedness of both companies and households in relation to GDP continued its decline of the past four years. 
Laenukasv tervikuna on jäänud siiski tagasihoidlikuks: 2014. aasta esimestel kuudel oli laenude ja liisingute kogumaht aastaguse ajaga võrreldes ligi 1% suurem ning nii ettevõtete kui ka majapidamiste võlakoormus SKP suhtes jätkas ligi neli aastat kestnud vähenemist.
Households primarily sustain borrowing whereas the annual growth of the stock of loans and leasing reached 47.5 per cent at end-October. 
Laenukasv tugineb jätkuvalt eelkõige kodumajapidamistel, kelle laenude ja liisingute jäägi aastakasv ulatus oktoobri lõpus 47,5 protsendini.
Decreasing credit growth is in line with what has been expected and the banks’ readiness to finance worthy projects is sufficient. 
Laenukasvu aeglustumine on kooskõlas oodatuga ning pankadel on piisavalt valmidust rahastada häid projekte.
Eesti Pank may introduce a countercyclical capital buffer requirement to reduce the risks from loan growth. 
Laenukasvuga seotud riskide vähendamiseks võib Eesti Pank kehtestada pankadele vastutsüklilise kapitalipuhvri nõude.
Loan growth following Asian/Russian crisis in 1999-2000: can the 1997 boom recur? 
Laenukasvust Aasia/Vene kriisi järel 1999/2000: kas 1997.aasta buum võib korduda?
Thus, the loan growth rate slightly accelerated, reaching close to 42% by the end of March (see Figure 2.12). 
Laenukasvutempo kiirenes seega mõnevõrra, jõudes märtsi lõpuks 42% lähedale (vt joonis 2.12).
Prohibited loans 
Laenukeeld
Loan insurance is focused on loan risk management and is most often bought in connection with housing loan contracts. 
Laenukindlustus on suunatud laenuriskide maandamiseks ning enim ostetakse kindlustust just eluasemelepin- gutele juurde.
Loan liabilities increased by 1.1 billion kroons and deposits of non- residents in Estonian credit institutions grew by a similar amount. 
Laenukohustused kasvasid 1,1 mld kr ja samas suurusjärgus suurenesid ka mitteresidentide hoiused Eesti krediidiasutustes.
In total terms, loan liabilities remained more or less unchanged from the first quarter. 
Laenukohustuste maht jäi enam-vähem eelmise kvartali tasemele.
The growth of indebtedness was relatively faster in other domestic demand oriented fields as well, especially trade. 
Laenukoormus kasvas keskmisest kiiremini teisteski sisenõudlusele orienteeritud harudes, eriti kaubanduses.
Scenario of bigger contraction in debt burden 
Laenukoormuse kiirema vähenemise stsenaarium
The endurance limit of indebtedness depends on a wide range of domestic and external factors some of which may change very promptly. 
Laenukoormuse taluvuslävi sõltub paljudest sise- ja välismajanduslikest teguritest, millest osad võivad väga kiiresti muutuda.
In comparing the loan burden, it should be remembered though that its optimal level depends on incomes and the income levels in other countries in the euro area are generally higher than that in Estonia. 
Laenukoormuse võrdlemisel tuleb aga arvestada, et selle optimaalne tase sõltub sissetulekust ning teistes euroala riikides on valdavalt suuremad sissetulekud kui Eestis.
Still, the level of indebtedness cannot be increased forever. 
Laenukoormust ei ole aga võimalik lõpmatuseni suurendada.
The rapid decline in loan quality and negative future outlook has affected the ratio of loan provisions. 
Laenukvaliteedi kiire halvenemine ning negatiivsed väljavaated on mõjutanud ka pankade tehtud allahindluste hulka.
The improvement in loan quality has allowed banks to start scaling down the provisions established for potential loan losses in previous periods. 
Laenukvaliteedi paranemine on võimaldanud pankadel hakata vähendama võimalike laenukahjumite katteks eelnevatel aastatel moodustatud reserve.
Loan quality has not improved evenly throughout the portfolio (see Figure 2.4.4). 
Laenukvaliteet ei ole paranenud kogu portfellis ühtemoodi (vt joonis 2.4.4).
Loan quality improved significantly in all sectors in 2013 (see Figure 2.5.2). 
Laenukvaliteet paranes 2013. aastal märkimisväärselt kõigis sektorites (vt joonis 2.5.2).
Loan quality improved in most other sectors as overdue loans started performing again. 
Laenukvaliteet paranes enamikus teistes sektorites eelkõige tänu viivislaenude toimivaks muutumisele.
Loan quality varies between countries because of the differences in the economies. 
Laenukvaliteet varieerub riigiti erineva majandusolukorra tõttu.
According to loan contracts, the majority of loans have been granted in the past decade by international financial organisations (e.g. the World Bank, Nordic Investment Bank, European Investment Bank, Council of Europe Development Bank). 
Laenulepingute järgi on valdav osa laenudest saadud möödunud kümnendil rahvusvahelistelt finantsorganisatsioonidelt (nt Maailmapank, Põhjamaade Investeerimispank, Euroopa Investeerimispank, Euroopa Nõukogu Arengupank).
The loan stock of the hotel and restaurant sector increased 28% and that of the energy sector grew by 13%. 
Laenumaht kasvas aga 28% hotellide ja restoranide sektori puhul ning 13% energeetikasektoris.
Another explanation to the extensive development of the domestic credit can be found from the changes in the structure of the loans. 
Laenumahu ekstensiivse arengu tagamaad peituvad ka laenude struktuuri muutustes.
The continuation of rapid credit expansion can postpone the slowdown in economic growth only temporarily. 
Laenumahu jätkuv suurenemine võib majanduskasvu aeglustumist üksnes ajutiselt edasi lükata.
loan growth (+) 
laenumahu kasv (+)
Credit growth based on different forecast scenarios 
Laenumahu kasv erinevate prognoosistsenaariumide järgi
Although credit growth is decelerating and the imbalances of the external environment are stabilising, the banks’ reserve requirement ratio remained unchanged at 15% in 2007. 
Laenumahu kasv küll aeglustub ning ka väliskeskkonna tasakaalustamatus on pigem stabiliseerumas, kuid pankade kohustusliku reservi määr jäeti 2007. aastal siiski muutumatuks 15% tasemele.
Credit growth has been declining more sharply than expected in the spring forecast, for investment activity has been strongly moderating. 
Laenumahu kasvu aeglustumine prognoosiperioodil osutub järsemaks kui kevadprognoosis eeldasime, kuna tunduvalt tagasihoidlikum vaade on võetud investeerimistegevuse suhtes.
The cost of funds has increased and banks have not managed to pass all of it on to clients (see Figure 17). 
Laenumahu kasvu rahastamiseks on tulnud kaasata ressursse senisest kallima hinnaga, mida ei ole suudetud klientidele edasi anda (vt joonis 17).
During the past half-year, the growth rate of credit volume decelerated for the first time after several years of acceleration (see Figure 1). 
Laenumahu kasvutempo aeglustus viimase poole aasta jooksul esimest korda pärast mitut aastat kiirenemist (vt joonis 1).
Such a large share of loan accumulation is not sustainable in the long run, which is why we expect that ratio to decline to about 4–5% in the years to come. 
Laenumahu sedavõrd kõrge osakaal ei saa pikemal perioodil olla jätkusuutlik, mistõttu järgnevatel aastatel ootame selle suhtarvu taandumist ligikaudu 4–5% piiresse.
Construction-sector enterprises are still facing the largest difficulties with paying back their debts - the volume of problem loans in this segment amounts to 20% of the portfolio. 
Laenumakse raskused on endiselt suurimad ehitussektori ettevõtetel, kus probleemlaenude maht küündib 20 protsendini portfellist.
The decrease in the 6-month Euribor key interest rate has somewhat eased the monthly loan burden of households. 
Laenumakseid on aidanud madalamal tasemel hoida majapidamistele väljastatud laenude baasintressimäära ehk 6 kuu EURIBORi vähenemine.
Loan repayment ability and risks 
Laenumaksevõime ja riskid
This means that loan repayment problems are more likely to emerge first and more severely in the business sector should the risks be realised. 
Laenumaksevõime probleemide avaldum ist võib seetõttu riski realiseerumisel esmalt ja suuremas mahus oodata ettevõtlussektoris.
Loan repayment ability 
Laenumaksevõime
Loan assets are now worth 106% of GDP and exceed loan liabilities by 7.4%. 
Laenunõuded moodustavad praeguseks 106% SKP-st ning ületavad laenukohustusi 7,4% võrra.
Loan capital assets to direct investors increased as much as in the previous period, but twice as much as year-on-year (see Tables 24 and 25). 
Laenunõuded otseinvesteerija suhtes kasvasid sama palju nagu eelmisel perioodil, kuid kaks korda rohkem eelmise aasta sama perioodiga võrreldes (vt tabelid 24 ja 25).
Loan liabilities to subsidiaries and associated companies shrank by around 0.5 billion kroons. 
Laenunõuded tütarja sidusettevõtetele vähenesid ligi 0,5 miljardi krooni võrra.
Loan assets decreased 4.1 billion kroons. 
Laenunõuded vähenesid 4,1 mld krooni võrra.
Loan demand should support economy, so that it would create real growth but would not cause inflationary pressures. 
Laenunõudlus peaks toetama majandust nii, et see looks küll reaalkasvu, kuid ei tekitaks inflatsioonisurvet.
Demand for loans will increase in line with economic growth but at a slower pace than the economy. 
Laenunõudlus suureneb kooskõlas majanduskasvuga, kuid jääb sellest siiski väiksemaks.
Demand for credit 
Laenunõudlus
If credit demand rebounds, banks will have a reason to become more active in the market and offer competitive conditions. 
Laenunõudluse kosumine aga annab pankadele põhjuse konkurentsivõimelisi tingimusi pakkudes turul aktiivsemalt tegutseda.
The higher increase in the demand for loans was financed by direct or syndicated loans from foreign banks and from the money earned from issuing bonds. 
Laenunõudluse suhteliselt kiiremat kasvu finantseeriti välispankadest võetud otse- ja sündikaatlaenudega ning emiteeritud võlakirjade arvel.
The recovery in demand was helped by the banks in the euro area starting to loosen their lending standards a little, while the interest rates on loans to companies and households fell. 
Laenunõudluse taastumist toetavad euroala pankade veidi leevenenud laenustandardid ning ettevõtetele ja majapidamistele väljastatud laenude intressimäärade alanemine.
However, this did not decrease the loan demand and household indebtedness continued rapid growth. 
Laenunõudlust see siiski ei vähendanud ning leibkondade laenukoormus jätkas kiiret kasvu.
Demand for loans is supported by the rapid growth in the average wage, and also by confidence about the future, which is at its highest level of recent years. 
Laenunõudlust toetab keskmise palga kiire kasv, aga ka kindlustunne tuleviku suhtes, mis on viimaste aastate kõrgeimal tasemel.