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Estonian budgetary council warns that structural surplus can be smaller than expected in 2014-2015
BC, Riga/Tallinn, 16.09.2014.
Print version
Print versionAccording to the calculations of the Estonian Budgetary Council, there is a high risk in the years 2014-2015 that the government estimates the actual structural budget surplus to be bigger than it really is, LETA/Public Broadcasting reports.
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The Budgetary Council therefore recommends that the government prepare the 2015 budget so that the government sector budget's structural surplus would not be smaller than the 0.8% of GDP pointed out in the finance ministry's autumn forecast. This way, it is more certain that the 2015 government sector budget is in line with the balance or surplus requirement by the end of the year.
The Council said that the Ministry of Finance summer macroeconomic and fiscal projections are a suitable basis, both regarding economic growth and tax revenues, for the draft state budget for next year.
The Budgetary Council is an independent advisory body created on the basis of the 2014 budget law.
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