Estonia’s state spending in the first five months of 2021 was not as excessive over revenue as planned in the state budget.
On July 14, the Estonian public broadcaster reported that from January to May general government budget deficit reached 1.6% of the gross domestic product and was EUR 467 million. Set against the end of May 2020, the budget deficit stood at EUR 325 million less.
The Finance Ministry explained that the decrease was mainly due to increased ax revenues and lower supplementary budget expenses compared to 2020. The situation of the state budget was also boosted by the suspension of state payments to the second pension pillar.
Income from the sale of goods and services, the sale of assets and Estonian state property revenues also grew in the period of the first five months of 2021. (BNN/Business World Magazine)