Riigikogu passes 2020 state budget
The Riigikogu passed the 2020 State Budget Act bill on Wednesday. The bill was supported by 55 MPs and opposed by 44 delegates.
The 2020 State Budget Act bill (82 SE) initiated by the government sports revenue of €11.7 billion and expenses of €11.8 billion.
Expenses will grow by €240 compared to 2019, with income growing by €760 million.
The third reading of the bill saw Riigikogu groups and MPs propose supporting mutual and nonprofit sector and civil society projects in the format of regional investments for a total of €4.3 million. Additional resources were allocated to local communities, kindergartens, schools, children's hobby activities, women's associations, congregations and other voluntary organizations.
The biggest single change introduced during the third reading saw top-up subsidies for farmers hiked by €5 million to €10.3 million.
Next year will see government sector fiscal balance in nominal balance and headed toward structural balance, sporting a deficit of 0.7 percent of GDP. Structural deficit is set to fall to 0.2 percent of GDP and the budget reach nominal surplus by 2021.
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Editor: Marcus Turovski
