Finance minister Keit Pentus-Rosimannus (Reform) says that the coalition is tackling the issue of budgetary deficit exacerbated, but not solely caused by, the coronavirus pandemic and its economic effects. This was exemplified by a nearly-balanced state budget planned for 2022. “We are now seeing a growth, whereas before the economy had been in a hole,”…
Next year’s budget revenue and expenditure are both more than EUR 13 billion. Revenues are rising due to rapid economic growth and next year’s budget deficit will remain within the limits of the European Union’s budgetary rules, which is less than 3% of GDP. According to the budget strategy drawn up in spring, next year’s…
Four parties of the ruling coalition in Latvia together with Atis Zakatistovs’ Stability Group have reached a political agreement on the 2022 state budget, as confirmed by the Latvian Prime Minister Krisjanis Karins. He said in the next year’s budget it would be very important to promote both economic growth and residents’ welfare, as well…
Estonia’s defense budget is expected to rise by EUR 103 million, to EUR 748 million next year. This will put the country’s defense spending at 2.31% of the forecast GDP. Minister of Defense Kalle Laanet (Reform) said this sum included allied costs, a defense investment program and new capability developments. “We can send a strong…
Estonia’s economy has recovered very well and has exceeded pre-crisis levels in most sectors, a recent economic forecast by the Bank of Estonia reads. There is increased price growth in Estonia, which could be calmed if the government would not increase the volume of expenditure in the coming years, the central bank warns. Prolonged price…
Opposition parties are calling on the government to help mitigate the effects of rising electricity prices after new records were set several times last week. Last week, the government said it did not have plans to control rising prices. Both Isamaa and the Social Democratic Party (SDE) initiated bills on September 20 to lower the…
The producer price index of industrial output in August increased by 1.7% MoM and by 15.5% YoY, the state agency Statistics Estonia reported. Statistics Estonia leading analyst Eveli Sokman said that the index was affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal…