Nr. 12-2011 Published monthly by:
The Swedish Chamber of Commerce
in Estonia

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Ups and Downs pointing towards Healthy Directions For the first time in three years, preliminary figures from Statistics Estonia indicate a small Estonian budget surplus in 2010.

On the positive downward direction, the same Statistics Estonia report shows that the country's gross debt level has lowered.

Though being small, Estonia's budget surplus went above the magic zero-border and ended up at +0,1% in 2010.

The gross debt level, went down from 2009's 7,2%, the lowest in the EU, to a respectably lower 6,6% level of the GDP in 2010. Following the March 6th Parliament election, this is a level that is likely to be highly appreciated by Estonia's majority Government coalition.

As for the small budget surplus, Estonia's tax revenues were 2,3% lower in 2010 compared to 2009. However, the Government's wage costs continued to fall and ended up being 4% lower in 2010 compared to the previous year. An 83-million-euro surplus in the social security sector further helped to push the Government sector's budget figure into positive territory.


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