The Estonian government will continue deliberations on the state budget strategy for the 2020-2023 period as well as the 2020 state budget bill on Thursday as well as next week. Both documents must be complete by the end of the month.
The government is to discuss political choices concerning the state budget strategy as well as next year’s state budget at Cabinet meetings this Thursday as well as next week. Based on Cabinet agreements and guidelines, the Ministry of Finance will draw up the state budget strategy document and the state budget bill for next year, spokespeople for the Ministry of Finance told BNS.
At the state budget strategy discussion on Tuesday, the government received an overview of staff and salary policy, the potential impact of excise duty changes as well as the state’s real estate, spokespeople for the government said.
When drawing up the budget strategy, the government will be guided by five principles: a family-friendly Estonia, a coherent society, a knowledge-based economy, effective governance, and a free and protected state.
The budget strategy draws together the objectives of the government, the plans and activities of ministries and the funding thereof for the next four years.
Each year, the budget strategy for the next four years is drawn up in spring, and the government usually approves it at the end of April. During general election years, the government typically endorses the strategy by the end of May.
The 2020 state budget will be drawn up separately. In accordance with the amendments to the State Budget act passed in 2017, 2019 will be the first year when the state budget strategy and the state budget bill are drawn up simultaneously.
Like the budget strategy, the state budget bill for the next year has to receive government approval by the end of May. If necessary, the government will continue talks on the state budget in autumn based on summer economic forecasts. The Riigikogu will handle the state budget bill in autumn.