The state budget is bursting at the seams: a gigantic amount is already missing (2)

According to a Treasury survey, the budget deficit reached 701 million euros by the end of May, mainly due to increased spending on defense and social benefits. Compared to the same period last year, the deficit increased by 115 million euros. Estonia's state budget deficit has reached 700 million euros. Photo: Karl-josef hildenbrand

According to a Treasury survey, the budget deficit reached 701 million euros by the end of May, mainly due to increased spending on defense and social benefits. Compared to the same period last year, the deficit increased by 115 million euros.

Translation: Sergey Svetlov

In May, tax revenue growth slowed, mainly due to a decline in excise tax revenues, as previously purchased inventories were sold following an increase in excise rates. However, according to the ministry's analysis, tax revenues overall exceeded projections, mainly due to personal and corporate income taxes.

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