2010 Budget Approved

The Estonian parliament approved the government's 2010 budget plan on December 9. The vote passed comfortably with 55 members in favour and only 39 votes against in the 101-seat Riigikogu. The expenditure programme plans for a deficit of just 2.8% of GDP, within the 3.0% maximum limit under the Maastricht criteria for euro entry. Crucially, further cuts to spending were made through the various draft readings of the state budget and the plan expects for a reduction in revenues. The government's ability to pass its austerity budget bodes well for their objective to achieve euro entry by 2012. Moreover, it

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