Budget, Estonia, Financial Services, Legislation
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Thursday, 28.03.2024, 09:45
Fiscal Council: 2016 budget in Estonia in line with requirements
According to the Ministry of Finance the budget position of the
government sector in 2016 registered a nominal surplus of 0.3 percent of GDP
and a structural surplus of 0.7 percent of GDP. The Fiscal Council said
that the structural position of 2016 was in accordance with the State Budget
Act.
According to the State Budget Act, the Fiscal Council shall present an
opinion regarding the objectives of the structural budget position of the
general government sector recorded in the budget strategy and the stability
program prior to the approval of the budget strategy and the stability program,
following the budget position rules and the necessity to adjust the structural
budget position.
When setting the budget objective for 2016, it was necessary to ensure that
the budget of the government sector be at least structurally balanced.