TALLINN - The Estonian president has signed off on a negative budget that allows for a loan of up to 9 billion kroons (575 million euros) to help stabilize the worsening economic crisis in the country.
The new budget came on the heels of a revised economic forecast from the central bank and the Finance Ministry. The forecast predicted a fall by up to 9 percent of GDP this year.
The budget passed through Parliament on Feb. 20, with 61 votes in favor and 35 against in the 101-seat body.
Comments