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HomeEstoniaEstonian govt approves 2024 state budget

Estonian govt approves 2024 state budget

The Estonian government has approved the 2024 state budget and the state budget strategy for the next four years with next year’s revenues amounting to 16.8 billion euros and expenditures to 17.7 billion euros.

The budget is focused on Estonia’s military and broad national defense, education, economic revitalization, which is also supported by the green reform, and the sustainability of public finances. Supporting Ukraine continues to be very important for Estonia, as reported by the government’s communication office.

In 2024, Estonia’s defense budget will exceed 3 percent of GDP for the first time, excluding the cost of hosting allies. The defense expenditure next year will be 1.33 billion euros and about 5.6 billion euros during the period from 2024 to 2027. This will increase Estonia’s independent defense capability and readiness to protect itself along with NATO allies.

Over 50 percent of the defense budget will be allocated to procurements. Estonia has significantly replenished its ammunition stocks, and its national defense capability will be increased on land, in the air, and at sea. The state also invests in the defenders of the country and their equipment, maintaining the combat capability of territorial defense. The Kaitseliit (Defense League) volunteer corps will be funded with nearly 300 million euros in 2024-2027.

From 2024 onwards, an additional average of nine million euros per year will be allocated for the Ministry of the Interior’s national defense tasks. This increases the reserve of the Police and Border Guard Board, including the means and opportunities for recruiting assistant police officers. Protecting Estonia’s borders and developing the eastern border continue to be a state priority, so a total of 15.2 million euros will be allocated for 2024 and 2025.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

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