TALLINN, Sept. 27 (Xinhua) -- The Estonian government Wednesday approved the 2018 state budget bill to exceed 10 billion euros (11.76 billion U.S. dollars) for the first time.
The budget bill makes the government sector's structural budget deficit at a near-balance level of 0.25 percent of the Gross Domestic Product (GDP), said Estonian Prime Minister Juri Ratas.
The size of expenditures and investments set out by the budget is 10.58 billion euros and of income, 10.33 billion euros. Expenditures and investments will increase by 9.5 percent, or 922 million, while income will increase by 10.6 percent, or 986 million, according to the bill.
The activities financed from the budget aim to promote economic growth, to increase the population of Estonia, to strengthen Estonia's security, and to increase the welfare and cohesion of Estonian society, Ratas noted.
The government investment in important infrastructure projects and in developing the living environment in Estonia is 56.7 million euros in 2018, according to local media.
The construction of a nationwide broadband network in collaboration with the state, municipalities and the private sector will continue, including railway projects in western Estonia and a total of 227 million euros investments budget in roads.
Defense expenditures are estimated to equal 2.11 percent of GDP in 2018, including investments necessary for hosting NATO allies and costs of the national defense investment program.
Basic tax-exemption of income reform, healthcare financing reform, and increase of payroll of public employees and teachers are also included in the budget bill. (1 euro = 1.18 U.S. dollars)
