The state budget deficit exceeded 600 million euros by the end of June

The Estonian state budget deficit in January-June of this year amounted to 629 million euros or 1.6% of GDP, writes Rus.ERR. Money. Illustrative photo. Photo: Peeter Lillevali

The Estonian state budget deficit in January-June of this year amounted to 629 million euros or 1.6% of GDP, writes Rus.ERR .

Compared with the same period in 2023, the budget deficit has increased by 238 million euros, the Finance Ministry reported on Friday, August 16.

The central government's budget deficit in the first half of the year amounted to 706 million euros, an increase of 134 million euros compared to the same period last year.

The deficit was driven by slower growth in tax revenues, lower non-tax revenues and a sharp rise in investment and business spending, mainly related to defence purchases.

The financial position of social security funds improved and was close to balance by the end of the half-year.

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