Jüri Ratas warns that the recovery of the Estonian economy must not create a misleadingly optimistic impression, as the temporary boost financed by government debt does not ensure long-term growth and budget deficits undermine the sustainability of finances. (translated)
European Commission's Commissioner for Competition and the Green Deal, Teresa Ribera, emphasized that the EU needs new funding options to adapt to climate change, including a larger budget, common debt, and taxation of fossil fuel companies. (translated)
António Costa called on European Union member states to agree on new pan-European taxes to avoid larger contributions to the seven-year budget and emphasized that the lack of an agreement would lead to possible cuts and greater obligations for member states. (translated)
Outgoing Finance Minister Aivar Sõerd emphasized that the rapid growth of the state's debt and rising interest rates pose a significant risk, which is why cutback measures are essential to reduce the budget deficit. (translated)
The Health Insurance Fund has released a financial forecast, according to which it plans to restore budget balance by 2030, while also increasing the availability of services and focusing on smart solutions. (translated)
The health insurance fund has released the budget rescue plan, which focuses on linking quality and outcomes with funding, while also taking into account the increase in medical staff salaries, the deadlines for which have been modified in the budget. (translated)
The Health Insurance Fund aims to achieve a balanced budget by 2030, forecasting expenses of 2.7 billion euros for next year and a reduction in the deficit to 44 million euros. (translated)
The Russian government reduced civil spending by 35% to cover the growing budget deficit and finance the war against Ukraine, although officials consider the budget situation not critical. (translated)
Six European Union countries demand a reduction in the EU budget by several hundred billion euros according to the commission's proposal, emphasizing that the necessary cuts should encompass all areas and the goal is to reach a compromise before the 2027 French presidential elections. (translated)
It is very important that despite the long summer and holidays, at least those four EU countries - the Netherlands, Poland, Spain, and Sweden - called for a return to the issue of the use of frozen state assets of Russia to cover Ukraine's significant budget deficit. (translated)
The Ministry of Finance forecasts that Estonia's economic growth will accelerate to 2.5 percent in 2023, but financial challenges are increasing, with the budget deficit reaching 4.5 percent next year and the government sector's debt burden increasing, being one of the fastest in the European Union. (translated)
Holland, Poland, Spain, and Sweden are inviting the European Commission to reconsider options for using Russia's frozen state assets to cover Ukraine's large budget deficits, emphasizing the need for quick financial support, while Belgium demands that the issue be resolved in a balanced manner, taking into account the interests of all EU member states. (translated)
The opposition calls for reducing state operational costs to start correcting the state budget deficit, while the Bank of Estonia advises the government to decide whether to cut costs or increase revenues. (translated)
The Bank of Estonia has warned that the budget deficit could lead interest costs to reach one billion euros in ten years, which is why it calls for an inter-party agreement to reduce the government sector's debt burden and to begin reducing the budget deficit, but there are disagreements within the coalition regarding cuts, which is why opposition parties' demands for substantial cuts are becoming increasingly serious. (translated)
The Estonian government has started discussions on the 2027 state budget and the budget strategy for the next four years, focusing on increasing people's welfare, maintaining economic growth, and investing in education and defense, while keeping in mind the reduction of the deficit and shaping the positions for the new European Union budget period. (translated)
The national debt of the United States has surpassed the $40 trillion mark for the first time, highlighting the country's complex budget balance, where defense spending and social programs consume a significant portion of the federal budget and are already affecting the standard of living for Americans. (translated)
The head auditor of the analysis department of the Estonian National Audit Office, Märt Loite, writes that the state should manage a quarter billion euros awaiting better ideas and not keep it in the SmartCap fund while the public sector is desperately seeking money and borrowing to cover daily expenses. (translated)
Latvian Prime Minister Andris Kulbergs is asking the European Union for seven billion euros to cover military and economic costs of resisting Russia, considering investments made under the EU's next seven-year budget, while Latvia is increasing defense spending and facing reduced economic ties with Russia. (translated)
Russia's budget deficit nearly doubled in July compared to the amount planned for the entire year, reaching 6.455 trillion rubles (64.5 billion euros) by early August, as state expenditures have grown rapidly outpacing revenues, while oil and gas income has significantly decreased, making budget management increasingly challenging. (translated)
The Secretary General of the Estonian Reform Party, Kristo Enn Vaga, confirmed that despite being in the minority in the Riigikogu, the coalition will continue its work, focusing on budget negotiations and presidential elections, and emphasized that they will not start buying votes from the opposition item by item in the budget. (translated)
