Tallinn submits supplementary budget to city council

Tallinn city government will submit a supplementary budget to be discussed and approved by the city council; the volume of the planned supplementary budget totals close to €53.4 million. The budget will be positive rather than negative as forecast in the spring.

The updated total of the 2020 Tallinn city budget is €862.3 million. Mayor of Tallinn Mihhail Kolvart said at a press conference on Wednesday that despite the emergency situation and the resulting difficulties, the city’s financial situation remains stable.

The spring forecast was rather pessimistic, forecasting a negative supplementary budget, Kolvart said, adding that it can now be said that the budget of Tallinn is growing instead, particularly due to support to the city and the loans Tallinn is planning to take out.

The supplementary budget will increase revenue by €18 million, the largest part of which will be state support for coping with the coronavirus pandemic. Additional income will also come from dividends and foreign financing, Kõlvart said.

Revenue will decline by €8 million in the sale of goods and services, and personal income tax receipts will drop by €6.1 million euros. Revenue from local taxes will decrease by €2.4 million and other revenues from assets have fallen by €38,900.

Read more: ERR.EE

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