Finance

Finance

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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

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

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

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

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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