Finance

Publications and articles

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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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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Government finance

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

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

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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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Financial intermediation

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

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

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

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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Finance

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Minifacts about Estonia 2015 (p. 32)

In 2014, the total revenue and expenditure in the state budget of Estonia were 7.82 and 7.77 billion euros, respectively. Revenue accounted for 97.5% and expenditure for 95.6% of the planned budget. Revenue was below the planned level mainly due to grants, which accounted for only 73.7% of the planned amount. Expenditure decreased primarily in terms of issued grants and other transfers. In comparison with 2013, budget revenue increased by 3% and expenditure by 0.4%. The budget surplus was 43 million euros.

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Säästva arengu näitajad. Indicators of Sustainable Development

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What progress has been made towards the four main targets of the Estonian National Strategy on Sustainable Development “Sustainable Estonia 21” (SE21) – growth of welfare, coherent society, viability of the Estonian cultural space and ecological balance? The publication includes 69 indicators of sustainable development that reflect the progress in key domains in Estonia. Under each indicator, there is an analysis of the current situation, an assessment of relevance in the SE21 context, and an overview of the measures defined in current development and action plans. The publication is prepared in cooperation with the Strategy Unit of the Government Office. While the main focus is on sustainable development, the publication provides a good overview of general trends in Estonia.
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Financial intermediation

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Egle Vesilind, Bogdan Krivenko
– Eesti statistika aastaraamat. 2014. Statistical Yearbook of Estonia (p. 192)

1,096 financial enterprises were surveyed in 2013. Financial enterprises include enterprises providing financial services, credit institutions, insurance enterprises, investment and pension funds, and enterprises engaged in activities auxiliary to financial services. 62% of them reported their activities regularly on time. Most (78%) of the surveyed enterprises were small with fewer than 50 employees. Nearly a quarter (22%) of the surveyed units were large (i.e. had more than 50 employees). The biggest enterprises in the Estonian financial sector were credit institutions and the central bank. Compared to 2012, the size of enterprises increased – the number of employees per enterprise rose by 12%.

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