National Debt Passes 10% of GDP (3)
According to latest figures released by Statistics Estonia, the 2013 budget deficit was 0.5 percent and state debt 10.1 percent of GDP.
The national debt level increased by 10.3 percent in 2013, reaching 1.9 billion euros or 10.1 percent of GDP.
Estonia's national debt was only one billion euros in 2011.
Some of the increasing debt comes from loans from the European Investment Bank (EIB), which are being used to provide matching funds for projects co-financed with foreign capital, including EU funding. Other sources include changes in governmental social benefits in the last budget.
Last year's budget deficit was around 0.5 percent of GDP amounting to 89 million euros.