2012 Deficit Figure Lowered to 0.2%

Photo: Postimees/Scanpix
9/24/2013 10:14 AM
Category: Economy

The latest revision from Statistics Estonia has put last year's general government deficit at 0.2 percent, down slightly from the 0.3 percent estimate issued in March.

General government expenses, which combine those by the central government, local governments and social security funds, exceeded revenues by 41.2 million euros.

The budget deficits of the central and local governments was 129.9 million euros and 32.2 million euros, respectively, while social security funds ended up with a 120.9-million-euro budget surplus.

The gross debt level, meanwhile, was also revised downward - from 10.1 percent to 9.9 percent of GDP. The figure jumped from 996 million euros to 1.7 billion euros last year.

In March, Statistics Estonia said that most of the increase came from a 385-million-euro loan the state took from the European Investment Bank for road construction and co-financing foreign projects, and a 355-million-euro commitment to the EFSF (European Financial Stability Facility). The latter went mainly toward the rescue package for Greece.


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