Renewed: 06.06.2012, 10:16
The state budget is a plan based on which the government uses the state’s money. The state budget shows how to distribute the money – how many euros can be given for providing many public services, including among others education, medicine, police, military, and fire fighting. Therefore, the budget is one of the most important measures for running the country.
The state budget is also a plan for the government’s revenues. In the state budget, the government forecasts how much money should be received by the state treasury, how much will come from income tax paid by the people, how much from social tax, how much from excise tax, and other sources of revenue. Taxes are the government’s primary source of revenue.
The state budget is the authorization granted by the Riigikogu (Estonian Parliament) to the government for the use of the people’s money. Each year, the Riigikogu approves the draft budget submitted by the government, thereby allowing the government to use the money.
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