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Eesti Pank's budget spending to surge by 13.8% in 2012
Juhan Tere, BC, Tallinn, 30.12.2011.
Print version
Print versionEstonia's central bank Eesti Pank announced that its 2012 budget volume is 19.8 million EUR and a 13.8% increase of spending is caused by surge of costs connected to cash.
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Eesti Pank will participate in production of euro banknotes for the first time next year. The central bank is obliged to return the 44 million banknotes received as a loan from the euro system, i.e. euro area central banks in autumn 2010 for Estonia's transition to the euro. There is also a certain amount of euros the European Central Bank council sets that every euro area member state has to produce annually, writes LETA.
Eesti Pank acquires the euro banknotes via a joint procurement with 8 other euro area central banks, Eesti Pank will be responsible for 20 EUR banknotes.
Eesti Pank income is forecast to amount to 22.8 mln EUR.
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