The state finances of Estonia, which proclaims it has the lowest debt in the European Union, are deceptive and may be eroded if competitiveness isn’t boosted, the country’s National Audit Office said. The government should target boosting productivity and net exports rather than focusing on returning to a budget surplus as fast as possible, the office said, according to Bloomberg.
The NAO’s analysis of revenue and spending, forecasts and the economy shows that the good state of Estonia’s public finances, which has won praise from the rest of the world, is largely deceptive and may prove fragile, the office said.
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Auditors: Estonia’s public finances far from good