Estonia: Audit finds major errors in 2023 state budget act

The National Audit Office of Estonia (Riigikontroll) found significant errors in the 2023 state budget act despite the overall accuracy of the state’s financial accounts, ERR reports. Key issues included incorrect recording of transactions in the budgets of the ministries of economy, regional affairs, and agriculture, leading to a discrepancy of EUR 122mn. Additionally, the Defence Ministry inaccurately recorded EUR 190mn in assets not yet delivered to Estonia, which did not comply with the Estonian financial reporting standard. The audit also highlighted transparency issues in the distribution of domestic grants and concerns about large unused budget surpluses, which complicate budget management. Recommendations were provided to address these issues.