Estonia: public finances

What is in Estonia's 2027 budget?

The draft 2027 state budget has revenue of €19.4 billion, expenditure of €20.2 billion and investment of €1.2 billion, with a nominal general government deficit of 4.0% of GDP, according to the Ministry of Finance's 2027 budget page (in Estonian). The page also links the draft law and its explanatory memorandum.

The budget is a bill until the Riigikogu adopts it, and figures can change during its passage. The ministry's page includes an interactive dashboard showing spending by area and ministry.

Official sources: Ministry of Finance: 2027 riigieelarve (Estonian)

What is Estonia's budget deficit?

Estonia's general government deficit was 2.0% of GDP in 2025, up from 1.1% in 2024, according to Eurostat. The Ministry of Finance's draft 2027 budget plans a nominal deficit of 4.0% of GDP in 2027.

Eesti Pank said on 22 September 2026 that, without further measures, the deficit is forecast to exceed €2.2 billion a year in the years ahead, and that it is larger than earlier forecast because wages and consumption, and so tax revenue, grew more slowly than expected.

Official sources: Eurostat: Government deficit/surplus · Ministry of Finance: 2027 riigieelarve (Estonian) · Eesti Pank: forecast, 22 September 2026

What is Estonia's debt to GDP ratio?

Estonia's general government debt was 25.2% of GDP at the end of the first quarter of 2026, up from 24.1% at the end of 2025, according to Eurostat. It remains well below the EU reference value of 60% of GDP.

Total tax revenue was 36.8% of GDP in 2025 and government spending 45.4%, according to Eurostat's tax and government finance tables. Debt rises when deficits are financed by borrowing.

Official sources: Eurostat: Quarterly government debt · Eurostat: Tax revenue

What is Estonia's national debt?

In 2025, general government gross debt in Estonia was 24.0% of GDP, according to the IMF. That is the highest since at least 2005. Europe & Central Asia median: 46.9% of GDP; Estonia is 45th highest of 51. Of 185 countries with 2025 data, 167th highest.

What is Estonia's fiscal deficit?

In 2025, general government net lending or borrowing in Estonia was -2.0% of GDP, according to the IMF (a deficit). The peak was 2.7% of GDP in 2006 and the low -5.4% of GDP in 2020. It is 22nd highest of 51 in Europe & Central Asia, where the median is -2.4% of GDP. Worldwide: 74th of 188.

What is Estonia's government revenue?

According to the IMF, general government revenue in Estonia was 43.2% of GDP in 2025. No year since 2005 has been higher. Across Europe & Central Asia the middle value was 41.3% of GDP, and Estonia placed 20th highest of 50. Of 187 countries with 2025 data, 31st highest.

How much does Estonia's government spend?

In 2025, general government spending in Estonia was 45.1% of GDP, according to the IMF. The peak was 46.1% of GDP in 2009 and the low 33.5% of GDP in 2006. Europe & Central Asia median: 43.3% of GDP; Estonia is 22nd highest of 50. World rank, highest first: 35th of 186.

What is Estonia's tax to GDP ratio?

The latest figure from the IMF, for 2024, is 22.7% of GDP. No year since 2005 has been higher. Across Europe & Central Asia the middle value was 20.8% of GDP, and Estonia placed 16th highest of 42. Of 92 countries with 2024 data, 25th highest.

What is Estonia's military budget as a share of GDP?

In 2025, military spending in Estonia was 3.4% of GDP, according to SIPRI. It is the top of the series, which starts in 2005. It is 7th highest of 46 in Europe & Central Asia, where the median is 2.0% of GDP. Worldwide: 16th of 149.