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International Internet Magazine. Baltic States news & analytics Friday, 05.06.2020, 12:41

Estonia directs additional funds to labor market services

BC, Tallinn, 22.05.2020.Print version
The Estonian government as a decision of Thursday's sitting supported the proposal of the supervisory board of the Unemployment Insurance Fund to direct an additional 147.9 million euros to compensate for the salary reductions of employees in the current crisis, government spokespeople said, cites LETA/BNS.

At the proposal of the supervisory board of the Unemployment Insurance Fund, the government decided to transfer 23% of the funds accumulated but not used in previous years to the unemployment insurance benefit trust fund and the employer's insolvency compensation trust fund to cover the costs of the current wage compensation measure in effect from March to May.

The transfer will enable payments to be made from the salary compensation measure currently in force and is part of the estimated cost of the measure in the amount of 250 million euros.

In the event of insufficient resources of the endowment, the government may decide to transfer up to 30% of the assets of the trust funds to the endowment due to the extraordinary need of the labor market.

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