Estonia’s budget talks to be launched in August

  • 2012-07-12

TALLINN - According to the current budgetary strategy, next year’s budget spending will amount to 6.49 billion euros – slightly less than spending that was planned for 2012, writes Postimees.

Despite earlier intentions, the budget will not be in nominal balance in 2013 – there will be a projected deficit of 0.8 percent.

According to information available to Postimees, all ministries except for the Ministry of Defence have submitted an additional request to the maximum levels set by the Ministry of Finance in April. The interministerial talks over budget requests will begin in mid-August and the first cabinet meeting on the subject of budgets is likely to take place in early September.

The more precise volume of the 2013 budget will be determined after the Ministry of Finance will publish its so-called summer economic outlook which usually is compiled at the end of August.