Finance

Finance

Minifacts about Estonia 2017 (p. 28)

In 2016, the state budget ended up in balance, as both the total revenue and total expenditure amounted to 8.6 billion euros.

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Government finance

Eesti Statistika Kvartalikiri. 2/17. Quarterly Bulletin of Statistics Estonia (p. 78)
Agnes Naarits

Estonia’s financial position continues to be good: the consolidated budget of the general government is in surplus, the government debt is decreasing and revenues are increasing year by year. With its balanced budget policy Estonia is one of the frontrunners among the European Union countries. This article provides an overview of the changes of the more important indicators of the general government finance statistics in 2016.

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General government debt declined again

news release no 36

According to the preliminary data of Statistics Estonia, in 2016, the Estonian general government surplus was 0.3% and the gross debt level was 9.5% of the gross domestic product.

Surplus/deficit of the general government in Estonia by sub-sectors, 2008–2016

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General government debt was adjusted

news release no 109

According to the adjusted data of Statistics Estonia, in 2015, the Estonian general government surplus was 0.1% and the gross debt level was 10.1% of the gross domestic product.

Diagram: Surplus/deficit of the general government in Estonia by sub-sectors, 2011–2015

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Financial intermediation

Eesti statistika aastaraamat. 2016. Statistical Yearbook of Estonia (p. 198)
Egle Vesilind

The Estonian sector of financial and insurance activities includes 1% of economically active registered enterprises (excl. sole proprietors who are registered only in the Register of Taxable Persons). The sector of financial and insurance activities includes the central bank, credit institutions, holding companies, trusts, funds and similar entities, insurance companies, pension funds, units engaging in other financial services activities, in the administration of financial markets, in activities auxiliary to financial services and insurance activities and in fund management activities. In 2015, the contribution of the sector of financial and insurance activities to the gross domestic product (GDP) of Estonia was 0.4 percentage points bigger than in 2014. The average contribution of the sector to the GDP in the 28 Member States of the European Union fell in 2015 to the level of 2013, i.e. to 5.3%. The contribution of the Estonian financial and insurance activities sector to the GDP is still on the same level as in 2014 and comparable to the corresponding indicators of Spain, Germany and Romania (3.9%).

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Government finance

Eesti statistika aastaraamat. 2016. Statistical Yearbook of Estonia (p. 205)
Agnes Naarits

As at the beginning of 2016, the list of general government units includes a total of 2,925 establishments, public-legal units, foundations, and enterprises acting as non-market producers whose economic activities were included in government finance accounting. This number included 317 central government units, 2,606 local government units and 2 social security funds. Compared to the previous year, both the number of central government units and that of local government units declined – by 5 and 19, respectively. Public sector enterprises which are owned by the state or local governments totalled 253, with 4 of them belonging to the financial institutions’ sector.

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Finance

Minifacts about Estonia 2016 (p. 32)

In 2015, the total revenue in the state budget of Estonia was 7.98 billion euros, including transferrable tax revenues. This was substantially below the planned budget volume, which was 8.45 billion euros. The planned level was not reached mainly because of a smaller sum of grants received. Excluding the grants, the sum of receipts exceeded the planned amount by 155 million euros. The planned expenditure in 2015 was 8.67 billion euros, out of which 8.33 billion were spent in the budget year.

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General government balance continued in surplus

news release no 36

According to the preliminary data of Statistics Estonia, in 2015, the Estonian general government surplus was 0.4% and the gross debt level was 9.7% of the gross domestic product.

Diagram: Surplus/deficit and debt level of the general government in Estonia, 2007–2015

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General government surplus was adjusted

news release no 104

According to the adjusted data of Statistics Estonia, in 2014, the Estonian general government surplus was 0.8% and the gross debt level was 10.4% of the gross domestic product.

Diagram: Surplus/deficit and debt level of the general government in Estonia

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Financial intermediation

Eesti statistika aastaraamat. 2015. Statistical Yearbook of Estonia (p. 200)
Egle Vesilind

The sector of financial and insurance activities is small – the enterprises of this sector account for 4% in the total number of enterprises in Estonia. The sector is divided into three: 1) financial service activities, except insurance and pension funding; 2) insurance, reinsurance and pension funding, except compulsory social security; 3) activities auxiliary to financial services and insurance activities. Financial service activities account for the largest share in the sector of financial and insurance activities – 83% of the entire financial and insurance activities sector and 3% of the total number of enterprises in Estonia.

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Government finance

Eesti statistika aastaraamat. 2015. Statistical Yearbook of Estonia (p. 207)
Agnes Naarits

As at the beginning of 2015, the list of general government units included a total of 2,949 establishments, public-legal units, foundations, and enterprises acting as non-market producers whose economic activities were included in government finance accounting. This number included 322 central government units, 2,625 local government units and 2 social security funds.

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