EUR 18.5 million is being invested into Parnu Airport, though with no promise of recouping those funds. The airport will remain under the control of its parent company, Tallinn Airport, while one of the first major tasks is to attract flight companies. Phase one of Parnu Airport’s redevelopment has been completed, which includes a new…
The sales revenue of retail trade enterprises increased by 9% in August, to EUR 762 million. The sales revenue of manufactured goods grew the most, by 17%. Jaanika Tiigiste, leading analyst at Statistics Estonia, said that turnover increased in grocery stores and in stores selling manufactured goods as well as in enterprises engaged in the…
While Estonia was set to receive nearly 1 billion euros in Connecting Europe Facility (CEF) funds as of the end of last year, strong economic growth might see that figure reduced. Finance minister Keit Pentus-Rosimannus says that this should not mean funding for a proposed central hospital in Tallinn, one of the main objects the…
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…