(RTTNews) - Estonia's budget deficit was nearly EEK 5.3 billion, which is 2.51% of the GDP, for the first five months of this year, the Finance Ministry said Thursday.
The deficit was in line with expectations as the beginning of the year traditionally records lower tax receipts. The ministry expects the deficit to stabilize in the second half of the year due to increase in revenue collection following higher tax revenue and dividends.
The government's total revenue by the end of June amounted to EEK 40.1 billion, of which EEK 29.9 billion was collected through taxes. Expenditure for the first half of the year totaled EEK 42.1 billion. During the six month period, the investments added up to EEK 3.2 billion, which was 39.1% of the planned expenditure.
From January next year, Estonia will join the euro currency bloc as the 17th member. Estonia's general government deficit fell to 1.7% of GDP, below the 3% EU threshold, in 2009 and the gross debt level stood at 7.2% of GDP.
For comments and feedback: contact email@example.com Copyright(c) 2010 RTTNews.com, Inc. All Rights Reserved
updated Jul 29, 2010
Sign up to get our newsletter with money saving tips, travel hacks and more - no spam.
discounts & deals from all banks in one app?
At GET.com we compare credit cards and rate them objectively based on the credit card's features, interest rates and fees.
Cards are rated by our team based primarily on the basis of value for money to the cardholder. The GET.com team rates each card based on its annual fee, rewards, benefits, bonus, introductory APR, ongoing APR, flexibility (in how its benefits can be used and how rewards are earned and redeemed), and other card features.