Estonia's state budget to grow 5 percent next year

Eelarve PHOTO: Arvo Meeks / Valgamaalane

The volume of Estonia's state budget will grow by more than 400 million euros or 5 percent in 2014.

Cover for a pension rise of 5.8 percent is ensured, Prime Minister Andrus Ansip said at the government's press conference on Thursday.

The public sector wage growth was agreed upon at 5.1 percent, but the figure may change as ministers can differentiate it within their area of governance, the prime minister added.

The current year's budget revenues are projected at 7.5 billion euros and expenditures at 7.7 billion euros. The deficit of the general government budget is expected to reach 0.7 percent of gross domestic product.

The Finance Ministry said in its summer forecast it expects the economy to expand by 3.6 percent in 2014.