Ligi: State Cannot Show Preference to Investors in Russia Export (1)

Jürgen Ligi (Postimees/Scanpix)
8/13/2014 2:55 PM
Category: Economy

The Delfi-affiliated business news site Ärileht pinned down Finance Minister Jürgen Ligi on how much the state would throw at the agricultural sector next year in light of comments from the Agriculture Ministry that a negative supplementary budget looms large.

Ligi said the Cabinet has not encouraged any entrepreneurs to take the "Russian risk" and that business people know what the situation is like - "one day the market is there and the next day it's closed up," the news site wrote.

"The losses will be borne by different sectors and as things will get tighter on the European market as well, the state can't show a preference here to those who exported to Russia," said Ligi.

"Thus the weight will affect all of society. Those who have financed Russia-oriented business plans understand their liability and will lengthen loan repayment terms."

Agriculture Minister Ivari Padar said on ETV yesterday: "In this whole situation, the budget will be under very great pressure. I don't rule out that we will have to talk about a negative supplementary budget in the context of the Estonian state budget, so I don't have very high hopes about changes to the budget."


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