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Financial Outlook

In its 2014 budget the Estonian government managed to go for an increase in civil service pensions and salaries and at the same time to produce a budget that reflects a structural surplus in the GDP of 0.7%. The increase in expenditure planned for 2014 is around €333 million, or 4.35% more than the budget for 2013. However, the government expects tax revenues to increase by some 6.5%. Estonia also plans to run with its lowest taxation levels for six years, with tax amounting to 32.1% of income in 2014. The overall public sector debt burden of 10% of GDP envisaged for 2014 is well under the average state debt level for the European Union. Public sector employees can look forward to a salary increase of some 5.1%. The government intends to promote Estonian industry more heavily in emerging markets, and to this end it is opening an embassy in Brazil in 2014. Estonia spends around 2% of GDP on defense, and this will stay at the same level through 2014.

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Further reading on Estonia


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