Estonia passes ‘optimistic’ 2008 budget

TALLINN - The government on Sept. 20 approved a draft state budget for 2008 that one analyst has described as overly “optimistic.”

Overall the budget next year is expected to grow 25 percent, and revenues are projected to reach 96.3 billion kroons (6.2 billion euros) and expenditures 93.6 billion kroons. As is tradition, the budget provides for a surplus of 1.3 percent of gross domestic product.

For years now Estonia has boasted one the largest budget surplusses in the European Union.