Estonia: PM Kallas submits 2024 state budget to parliament

Estonia’s Prime Minister, Kaja Kallas, has submitted the draft state budget for 2024 to the parliament, the Riigikogu, for debate, ERR reports. Budget revenues will amount to EUR 16.79bn, expenses to EUR 17.67bn, and investments to EUR 0.82bn. The budget deficit is estimated at EUR 1.19bn or 2.8% of GDP, and the government therefore plans to borrow EUR 1.16bn. The four-year budget strategy foresees cuts of EUR 354.6mn and additional revenues of EUR 114.1mn in 2024-2027. Kallas said that the government’s budget priorities were national defence and broad-based security, supporting economic growth through green reforms, sustainability of state finances, education, and supporting Ukraine. The government’s goal is to bring spending and public debt under control and gradually improve public finances, Kallas stated.

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