85 bEEK accrued to the state budget last year

According to the initial information by the Ministry of Finance, 84.9 billion kroons accrued to the budget of the Estonian state in 2008, i.e. 94.1 percent of the budgeted revenue. The expenditure of the state budget reached 90.1 billion kroons, i.e. 94.4% of the budgeted expenditure.

As of the end of the year the state budget expenditure exceeded the revenue by 5.2 billion kroons. The excessive expenditure was financed out of reserves.

 

Tax revenue accounted for 70.4 billion and non-tax revenue for 14.5 billion kroons of the annual total revenue of the state budget of 84.9 billion kroons. In comparison with 2007 the state budget revenue rose by 2.9 billion kroons, i.e. 3.4 percent.
 
Tax revenue amounted to 70.4 billion kroons by the end of 2008, i.e. 95.8 percent of the budgeted amount. In comparison with 2007 the tax revenues rose by 2.7 billion kroons, i.e. 3.9 percent.

In 2008 social tax accruals amounted to 31.3 billion kroons, i.e. 99.2 percent of the budget amount. In comparison with 2007 the social tax accruals increased by 4 billion kroons, i.e. 14.8 percent.

Last year personal income tax accruals amounted to 4.3 billion kroons, i.e. 104.3 percent of the budget amount.
In 2008 the personal income tax accruing to local authorities amounted to a total of 11.5 billion kroons. In comparison with 2007 the annual accrual rose by 1.7 billion, i.e. 16.9 percent.

Corporate tax accruals amounted to a total of 4.2 billion kroons in 2008, i.e. 102.9 percent of the amount planned in the budget and supplementary budget. In comparison with 2007 the corporate tax accruals increased by 82.3 million kroons, i.e. 2 percent.

Value added tax accruals totalled 20.5 billion kroons last year, i.e. 90.1 percent of the amount planned in the budget and supplementary budget.
1.4 billion kroons of value added tax accrued in December, i.e. 31.6 percent less than in December 2007. The considerably smaller accrual of value added tax in December can be attributed to the use of advance payment, higher value added tax arrears, and postponement of declaration of value added tax until the new year.

Last year excise duty accruals totalled 9 billion kroons, i.e. 91.9 percent of the amount planned in the budget and supplementary budget. Overall, excise duty accruals of 2008 exceeded those of 2007 by 776.6 million kroons, i.e. 9.5 percent.
 
Non-tax revenue accruals amounted to 14.5 billion kroons in 2008, i.e. 87 percent of the amount planned in the budget. In comparison with 2007 the accrual of non-tax revenues increased by 209.2 million kroons last year, i.e. 1.4 percent.

Aid accounts for the largest share of the accruals of non-tax revenue with 7.4 billion kroons. External funds amounted to 5.6 billion kroons thereof, i.e. 62.5 percent of the amount planned in the budget. In comparison with 2007 the amount of aid has risen by 244.3 million, i.e. 3.3 percent.
 
In addition to aid 1.8 billion kroons accrued to the state budget from the sale of goods and services, i.e. 99.7 percent of the amount budgeted. 650.6 million kroons accrued from sales of material and immaterial property and assets, while revenue earned on property and assets amounted to 3.2 billion kroons, which account for 43.7 and 138.7 percent of the budgeted amounts, respectively.

In comparison with 2007 the revenue on property and assets rose by 120.3 million kroons, i.e. 3.8 percent.
Other revenue totalled 1.4 billion kroons, i.e. 120 percent of the budgeted amount. In comparison with 2007 other revenue accrued in the amount of 17.1 million kroons, i.e. exceeding that of 2007 by 1.2 percent.
 
Budget expenditure amounted, according to initial information, to 90.1 billion kroons as of the end of 2008, i.e. 94.4 percent of the amount planned in the budget and supplementary budget.

Last year various allocations such as social aid and allocations intended for a specific purpose constituted the largest portion of the expenditure classes with a total of 65.1 billion kroons. In comparison with 2007 this expenditure rose by 10.8 billion kroons, i.e. 16.6 percent. This can be attributed mainly to rises in pensions and other social aid.

5.5 billion kroons, i.e. 61.2 percent of the planned amount has been paid out of external aid. As of the end of December 2008 18.7 billion kroons, i.e. 3.1 billion (16.7 percent) more than in 2007 has been allocated for operating expenses.
 

The figures indicated in this press release give an initial overview of the implementation of the budgeted revenue and expenditure in 2008, taking into account the expenditure transferred from 2007. Implementation of the revenue and expenditure of the state budgeted cannot be equalised with the budgetary position of the Estonian general government, which is calculated upon fulfilment of the Maastricht criteria.

Final figures of implementation of the state budget are specified and approved in the annual report not later than in August 2009. The initial budget deficit and debt data of the general government in 2008 will be published by the Estonian Statistical Office on March 31.

Source: Estonian Ministry of Finance

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