Finance and the State Budget

Finance and the State Budget

- Constitution of Estonia

CHAPTER VIII. Finance and the State Budget

Article 111. Emitting Estonian currency is the exclusive right of Bank of Estonia. The Bank of Estonia regulates the circulation of money and ensures the stability of the state's currency.
Article 112. The Bank of Estonia operates in accordance with law and reports to the State Assembly.
Article 113. State taxes, encumbrances, levies, fines and mandatory insurance payments are established by law.
Article 114. The procedure for owning, using and managing state property is established by law.
Article 115. A budget for all of the state's proceeds and expenses will be passed, as a law, by the State Assembly for each year. The Government of the Republic submits a bill of the state budget to the State Assembly not later than three months before the start of the fiscal year. At the suggestion of the government, the State Assembly can pass a supplementary budget law during the fiscal year.
Article 116. Any proposals dealing with changes in the state budget or its bill involving a reduction in proceeds projected by it, an increase in expenses, or a reallocation of expenses, must be submitted by its originator along with monetary calculations indicating the sources of proceeds necessary to cover the expenses. The State Assembly cannot abolish or reduce any expense allocations made to the state budget or its bill by some other law.
Article 117. The procedure for preparing and ratifying the state budget is established by law.
Article 118. The state budget ratified by the State Assembly will go into effect at the beginning of the fiscal year. If the State Assembly does not ratify the state budget by the beginning of the fiscal year, monthly expenditures will be allowed for up to one twelfth of the annual expenditures of the previous fiscal year.
Article 119. If the State Assembly has not ratified the state budget within two months of the beginning of the fiscal year, the President of the Republic will call for special elections of the State Assembly.
Preamble
General Provisions
Basic Rights Liberties and Obligations
People
Parliament
President of the Republic
Government of the Republic
Legislation
Finance and the State Budget
Foreign Relations and Foreign Agrements
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State Control
Chancellor of Justice
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Amending the Constitution
Draft Law on Implementing the Constitution
Constitution Estonia Finance And The State Budget 2022
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