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## Ministry of Finance Confirms Budget Deficit in Estonia

Last year’s 3.4 percent budget deficit in Estonia was not a surprise, according to a statement released by the Ministry of Finance on Monday. The deficit resulted from budget expenses exceeding revenues by Ôé¼1.3 billion, as reported by Statistics Estonia.

## Kadri Klaos Highlights Factors Contributing to Budget Deficit

Kadri Klaos, head of the Public Finance Service at the Ministry of Finance, explained that the policies adopted with the previous year’s budget, totaling over Ôé¼2 billion, played a significant role in increasing the deficit. These policies included increases in social benefits, pensions, teachers’ salaries, public sector wages, and funding for higher education. The adoption of large packages at the end of 2022 further exacerbated the budget shortfall.

## AI legalese decoder for Budget Analysis

The AI legalese decoder can be instrumental in analyzing legal and financial documents related to budget deficits. By processing complex legal language and financial data, the AI tool can provide valuable insights and help in identifying key factors contributing to budget deficits. This can enable policymakers and financial analysts to make informed decisions and develop strategies to address fiscal challenges effectively.

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