The Estonian Finance Ministry has lowered its GDP growth forecast for 2004 to 5.3% from 5.6%
Published:
27 February 2004 y., Friday
The Estonian Finance Ministry has lowered its GDP growth forecast for 2004 to 5.3% from 5.6%, Finance Minister Taavi Veskimagi said at a press conference Wednesday.
The ministry is less optimistic about the rate of global economic growth than it was six months ago, he said.
Revenue is expected to be higher than forecast in 2004. The budget envisages tax and excises revenue of 38.79 billion krooni, but the ministry's new forecast puts the figure at 39.63 billion krooni.
Amendments to the budget will probably not be ready before the fall because Estonia must wait for the impact that joining the EU will have on the economy, and put together a clear idea of the potential in the new conditions.
The 2004 budget envisages a deficit of 70 million krooni, or 0.06% of GDP. Revenue is planned at 47.62 billion krooni and spending at 47.69 million. GDP is forecast at 120.4 billion krooni, up 5.6%. The Bank of Estonia forecasts GDP growth of 5.2%.
The Estonian kroon is tied to the euro at 15.64664 krooni/EUR1.
Šaltinis:
Interfax/BNS
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
In Gothenburg Sweden a deal is done for Volvo. A delegation from China’s Zhejiang Geely Holding Group, China’s largest private-run car maker, was given the red carpet treatment when it agreed to buy Ford Motor’s Volvo car unit for 1.8 billion dollars.
more »
The President of the Spanish Government and current rotational President of the European Union, José Luis Rodríguez Zapatero, affirmed this Sunday that during his presidency of the EU, Spain will continue to support the inclusion of the "complete affirmation of equality between men and women" within the new economic strategy.
more »
Despite the unfavorable macroeconomic situation, AS UniCredit Bank Lithuanian Branch achieved positive activity indicators in 2009: the bank branch operated profitably, the total loan portfolio and assets increased and the number of customers grew.
more »
Young people, economic recovery and research should be the EU's top budgetary priorities, said the European Parliament on Thursday, when it became the first EU institution to adopt an opinion on next year's budget.
more »
The sixteen leaders of the euro area countries (the Eurogroup) have given their support to the financial aid mechanism for Greece; this involves the participation of the International Monetary Fund (IMF) and of the euro area countries through bilateral loans.
more »
Today, President of the European Commission José Manuel Barroso, President of the European Council Herman Van Rompuy and Spanish Prime Minister José Luis Rodriguez Zapatero representing the Presidency of the Council met the European social partners to look at how Europe can exit the current economic and financial crisis.
more »
Around 1,100 former furniture and textile workers in Lithuania will receive EU aid worth €1.2 million following a vote by Parliament on Thursday.
more »
An estimated 100 million people in developing countries will fall into extreme poverty because of the economic and financial crisis, according to a report being presented Wednesday evening in the House.
more »
The Heads of State or Government of the EU-27 will make their first formal decisions in the process to develop the “Europe 2020” strategy that aims to achieve sustainable economic growth, job creation as well as recognition for the European social model.
more »
On 16 March 2010 the Lithuanian Authority, Ryšių reguliavimo tarnyba (RRT), informed the European Commission that it was withdrawing its proposed measure on network infrastructure access markets.
more »