Budget, Estonia, Financial Services, Legislation
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Thursday, 07.11.2024, 14:30
Estonian Riigikogu approves of 2015 budget
56 MPs voted for and 35 against the bill.
The revenue is planned to grow by 7% as compared to this year and expenditures 6%.
Government sector's fiscal position will have a structural surplus of 0.8% of gross domestic product. The state budget has been compiled on the basis of forecast economic growth of 2.5% of GDP.
To guarantee the state's preparedness for coping with internal and exterior dangers, the defence expenditures increase to 2.05% of GDP or by 28 mln euros to 412 mln euros. Internal security funding grows by 5.3% to 425 mln euros.
The public sector payroll funds will be increased by at least 3%.
Social protection sphere expenditures will grow by 7.2% to 2.86 bln euros. First and second child support will be increased from 19.18 to 45 euros a month and third child support grows from 76.7 euros to 100 euros. Pensions increase by 5.9%, the average old-age pension grows from 353 to 374 euros. Free school lunches will be introduced for high school students, in addition to elementary and middle-school children who already get free school lunches.
Income tax will fall from 21 to 20% and unemployment insurance tax from 3 to 2.4%.
Government sector real estate investments form 863.5 million euros.