Estonia may deport permanent residents who choose to take Russian citizenship, Prime Minister Kaja Kallas confirmed, ERR reports, citing Postimees. Earlier, Interior Minister Lauri Läänemets said that stateless persons who took Russian passports were likely to have their Estonian residence permits revoked and face deportation. Kallas argued that an individual who chooses to obtain Russian…
Estonia will issue 10-year bonds for EUR 1bn to cover the state budget deficit in 2024, ERR reports. Sven Kirsipuu, deputy secretary general of the Ministry of Finance, said that the bond issue would cover about half of the state’s borrowing needs in 2024. Preliminary indications suggested that investor interest in Estonian bonds remained strong,…
The Estonian government has agreed on the state budget for 2024, Prime Minister Kaja Kallas announced, ERR reports. Under the agreement, the government will introduce no new taxes in addition to ones implemented earlier. The government will not impose a new tax on commercial banks, which will instead pay more taxable dividends. Also, the government…
The financial intelligence units (FIU) of the Baltic States have conducted a first joint study of cash flows in the region, BNS reports. The study showed that the risks and vulnerabilities related to the flow of cash have changed in the region in 2019-2022. While there is a significant flow of cash from all three…
Estonia’s real GDP will decline by 2.0% in 2023, according to the Ministry of Finance’s latest forecast, BNS reports. The GDP will grow by 2.7% in 2024, by 3.0% in 2025, by 2.5% in 2026, and by 2.2% in 2027, the ministry projects. Earlier, the ministry expected real GDP to drop by 1.5% in 2023…
Estonian Prime Minister Kaja Kallas is under pressure after ERR revealed that Keila-based logistics company Stark Logistics, in which her husband, Arvo Hallik, owns nearly 25% of shares, has continued to do business in Russia. Stark Logistics has shipped metal containers manufactured by Tallinn-based Metaprint to Russia. The majority owner of both Metaprint and Stark Logistics…
The state budget control select committee of Estonia’s parliament, the Riigikogu, held an extraordinary session on 8 August 2023 to discuss a controversy over alleged “horse trading” by the Office of the President, ERR reports. Earlier, presidential adviser Toomas Sildam had an informal discussion with Merike Saks, secretary general of the Ministry of Finance, in…
The amount of VAT violations in Estonia doubled in the first seven months of 2023, according to the Estonian Tax and Customs Board (EMTA), BNS reports. EMTA inspected and advised 5,000 companies over the period, resulting in increased VAT obligations of EUR 35.8mn, which is twice as much as a year earlier and EUR 6mn…
Estonian media reported that the Office of the President has made the promulgation of legislation passed by the parliament, the Riigikogu, contingent on the government agreeing to allocate additional funding, ERR reports. An anonymous minister told Postimees that Peep Jahilo, head of the Office of the President, requested an additional EUR 360,000 of funding from government…
