Posts tagged as Finance Minister

Finance minister: By making cuts, we reduce pressure for tax hikes

Saturday, May 1, 2021

Cost-cutting in the Estonian state budget strategy for 2022-2025 is necessary to avoid tax increases in the future, Minister of Finance Keit Pentus-Rosimannus (Reform) said on the “Esimene stuudio” current affairs show of public ETV television Thursday night. “The state budget strategy in such form, containing also cost-cutting, is necessary first and foremost in order for us to have no pressure for tax hikes in the future,” Pentus-Rosimannus said. “Cost-cutting…

Finance minister: Ministries must cut spend by €60 million in 2022

Friday, April 30, 2021

Government ministries must be prepared to make spending cuts to the tune of €60 million next year, finance minister Keit Pentus-Rosimannus (Reform) says. Pentus-Rosimannus’ comments follow state budget strategy discussions which have been going on this week, involving the two coalition parties, Center and Reform, who have not been seeing eye-to-eye on all aspects of the negotiations. The finance minister told daily Postimees that: “We had a difficult partner at…

Estonian Finance minister: Ministries must cut spend by 60 percent in 2022

Thursday, April 29, 2021

Government ministries must be prepared to make spending cuts to the tune of €60 million next year, finance minister Keit Pentus-Rosimannus (Reform) says. Pentus-Rosimannus’ comments follow state budget strategy discussions which have been going on this week, involving the two coalition parties, Center and Reform, who have not been seeing eye-to-eye on all aspects of the negotiations. The finance minister told daily Postimees that: “We had a difficult partner at…

Estonian Finance minister: Capacity of supplementary budget is up to €700 million

Thursday, March 11, 2021

The government hopes to finish drawing up a supplementary budget bill in the coming weeks and take it to the Riigikogu. While the exact capacity of the extra budget is still not decided, it is likely to land somewhere between €500-700 billion, Minister of Finance Keit Pentus-Rosimannus said. Pentus-Rosimannus said the suuplementary budget’s main goal is supporting the healthcare system, maintaining jobs and slowing down losses of income. “We are…

Estonian Finance Minister: EKRE has never benefited financially from decisions

Wednesday, January 13, 2021

Finance minister and Conservative People’s Party of Estonia (EKRE) leader Martin Helme says that his party says that his party has never received money or any other rewards, following corruption allegations made surrounding a loan to a major Tallinn real estate development. However, Helme has suspended his adviser at the ministry, Kersti Kracht, who is subject to a secret services investigation into suspected corruption. Helme said: “Both personally and as…

Finance Minister plans to merge regulator with Latvian central bank

Thursday, May 21, 2020

The Ministry of Finance (FM) said May 21 it has submitted a proposal to the cabinet that would place Latvia’s independent financial regulator, the Financial and Capital Markets Commission (FKTK) under the wing of the Latvian Central Bank (LB). “The addition of the FKTK to the Bank of Latvia is the logical conclusion of the overhaul of the financial sector. Synergies of information and competencies will help the assessment of risks in…

Lithuania ‘more entrepreneurial’ and will rebound faster than Europe – finance minister

Thursday, May 7, 2020

Lithuania’s economic recovery after the coronavirus crisis will be more rapid than in other EU countries, since its businesses are “more entrepreneurial,” according to Finance Minister Vilius Šapoka. “Given that our business is definitely more entrepreneurial than that in older EU member states, Lithuania’s recovery will surely be more rapid and substantial, even though the economic decline will be broadly similar [in all EU countries],” he told the Žinių Radijas…

Finance minister: State should not provide Bolt with direct support

Monday, April 13, 2020

The state should not support debt-laden sharing economy enterprises that generate little tax revenue to the state, Minister of Finance Martin Helme wrote on social media on Monday, referring to the Estonian ride-hailing, electric scooter and delivery service Bolt. Bolt founders Bolt Martin and Markus Villig have sent a letter to the government requesting for Kredex to provide them with an extraordinary direct loan of €50 million or a fixed-guarantee…

Price regulation won’t be needed, Lithuanian finance minister says

Thursday, March 26, 2020

Despite reported increases in basic food prices, Lithuania’s Finance Minister Vilius Šapoka says he does not expect the government will resort to price regulation. Šapoka says the hike in retail prices is a temporary phenomenon caused by supply chain disruptions. “I regard it as a short-term effect, because there have been disruptions in supply chains,” the minister told the Žinių Radijas radio station on Thursday morning. “The situation will stabilise…

Finance Minister: this year promises to be good for Latvia’s economy

Monday, May 7, 2018

This year promises to be beneficial for Latvia’s national economy, said Finance Minister Dana Reizniece-Ozola in an interview to Rīta Panorāma programme of LTV. «Generally speaking, this year will be good,» said the minister, adding that the country’s GDP growth in Q1 2018 turned out better than the ministry had expected. According to estimates, Latvia’s economic growth is expected to be around 4% this year. At the same time, Reizniece-Ozola…