Estonia, Financial Services, Funds

International Internet Magazine. Baltic States news & analytics Tuesday, 02.09.2014, 21:55

Estonia used pensions reserve funds to cover current costs

Juhan Tere, BC, Tallinn, 27.05.2009.Print version
Äripäev Online: the State used 1.55 billion kroons of pensions reserve funds in April to cover the current costs, writes LETA.

This caused the extraordinary pensions reserve volume to fall to 3 billion kroons by the end of the month.

 

In total, the State Treasury had 12.03 billion kroons of liquid assets at the end of April – by 1.27 billion kroons less than in the beginning of the month.

 

The volume of the stabilization reserve grew from 7.33 billion kroons to 7.35 billion kroons in a month. The reserve fund for the property reform amounted to 452 million kroons at the end of April – 6 million kroons more than at the end of March.

 

In March the State Treasury reserves fell by 2.4 billion kroons as the State used 2 billion kroons from the fund titled ‘other liquid assets’ reserve’ by the Ministry of Finance.

 

According to the 2009 State Budget Act, Estonia is planning to use 3.5 billion kroons of its stabilization reserve funds this year.






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