State takes €4.3 million from Bank of Estonia profits ({{commentsTotal}})

The state has dipped into the Bank of Estonia profits, taking out 4.3 million euros from its 2014, 17-million-euro profit.

The rest of the sum will be used to sore up the central bank's reserves.

The bank's supervisory board chairman Mart Laar said the bank usually suffers losses when the economy falters and building up reserves will allow the bank to become less of a strain on the national budget during tough times.

The bank took a decision 2012 to increase its reserves to average proportional level of Eurozone central banks, which means an increase of one billion euros to 1.3 billion in reserves.

The bank has paid a total of 133 million euros into state coffers since 1992.

Editor: J.M. Laats



Siim Kallas.

Interview: Siim Kallas on ambitions, Estonian politics, and EU presidency

Following the local elections in October this year, Reform Party founder, former prime minister, EU commissioner, and presidential candidate Siim Kallas took on the job of municipal mayor of Viimsi, a community on the outskirts of Tallinn. In his interview with ERR's Toomas Sildam, Kallas talks about local government, his party, the EU presidency, and perspectives in Estonian politics.

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