State Investment Strategy Too Dependent on EU Funding, Says National Audit Office ({{commentsTotal}})


Estonia is developing itself mainly in the directions that EU funds allow, without investing much itself, says Tarmo Olgo, head of the Performance Audit Department at the National Audit Office.

Speaking at a construction conference, Olgo said that the state has little of its own money to invest, as state expenses are growing faster than revenue, Äripäev reported today.

Olgo said that between 2007 and 2013 Estonia has invested 4.2 billion euros, of which 70 percent came from EU funds, but with there will be a decline in availability of EU funds in the next few years due to the crossover to the new seven-year EU budget period.

Certain areas have received little or no investments, as they are not prioritized by the union, Olgo said, adding that museums are one such example, where exhibit rooms have been renovated, but art storage buildings are in a dire state.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.