Covid-19, Estonia, Financial Services, Good for Business, Legislation, Markets and Companies

International Internet Magazine. Baltic States news & analytics Wednesday, 28.02.2024, 03:51

Estonia approves EUR 435 mln state aid report

BC, Tallinn, 18.12.2020.Print version
The Estonian government at its sitting on December 17th approved an overview prepared by the Ministry of Finance on state aid and "de minimis" aid granted in Estonia last year, the total amount of which was 434.7 million euros, informs LETA/BNS.

The largest donor of state aid in 2019 was the Ministry of Culture, which handed out 22.7% of the total volume of aid. Aid by transmission system operator (TSO) Elering accounted for 21.2% of the total volume.

The agricultural registers authority PRIA and the Tax and Customs Board handed out 13.9% of the total volume of aid, the Environmental Investment Center 12% and Enterprise Estonia 9.4% of the total volume.

Aid by the Ministry of Economic Affairs and Communications made up 5.6% and that by the Estonian State Shared Services Center (RTK) 4.3%.

Smaller shares of state aid and "de minimis" aid were also handed out by the Unemployment Insurance Fund, Information System Authority (RIA) and Consumer Protection and Technical Regulatory Authority, respectively 2.9%, 1.2% and 0.9% of the total volume.

Compared to 2018, the total amount of state aid provided in Estonia grew by 71.2 million euros, or 23.4% in 2019, reaching 375.4 million euros. The ratio of state aid in the GDP increased by 0.16%age points to 1.34%.

State aid in the form of support was given in the amount of 342.1 million euros, or 91.13% of the total amount in 2019. The volume of support grew by 66.8 million euros compared with 2018.

Aid in the form of tax exemption totaled 32.4 million euros, or 8.63%, in 2019, and aid in the form of public guarantee 58,400 euros, or 0.02%. State aid in the form of loans totaled 86,000 euros -- 0.02% of the total volume.

Aid in the form of risk capital, a new type of aid, totaled 753,100 euros, or 0.2% of the total volume.

The full volume of "de minimis" aid grew 27.9%, or by close to 13 million euros on year in 2019, and totaled 59.3 million euros in all sectors combined.

Similarly to previous years, "de minimis" aid in the form of grants accounted for the largest share last year, 99.1%.

Search site