Finance and the State Budget
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Finance and the State Budget ![]()
- Constitution of Estonia
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CHAPTER VIII. Finance and the State Budget
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| 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.
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| Article 112.
The Bank of Estonia operates in accordance with law and reports to the State
Assembly.
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| Article 113.
State taxes, encumbrances, levies, fines and mandatory insurance payments are
established by law.
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| Article 114.
The procedure for owning, using and managing state property is established by
law.
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| 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.
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| 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.
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| Article 117.
The procedure for preparing and ratifying the state budget is established by
law.
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| 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.
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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.
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| Preamble
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| General Provisions
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| Basic Rights Liberties and Obligations
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| People
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| Parliament
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| President of the Republic
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| Government of the Republic
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| Legislation
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| Finance and the State Budget
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| Foreign Relations and Foreign Agrements
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| State Defense
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| State Control
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| Chancellor of Justice
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| Court
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| Local Government
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| Amending the Constitution
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| Draft Law on Implementing the Constitution
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