Economic Policy and Forecasts
According to EU rules on the coordination of budgetary policies the Member States of the European Union must annually submit updated stability and convergence programmes (members of the eurozone and the Member States who are not using the euro, respectively).
Estonia is a full member of the European Economic and Monetary Union
(EMU) since 1 January 2011 and submitted its Stability Programme to the European Commission and the Council of the European Union for the second time in 2012. The submission and assessment of stability and convergence programmes is an important part of the coordination and monitoring of the economic policy of the European Semester
The Commission and the Council assess the stability and convergence programmes within the scope of the European Semester before the most important decisions are made in the preparation of the budgets of Member States in order to give policy recommendations on fiscal policy intentions if necessary.
Estonia's fiscal policy remains in line with the Stability and Growth Pact
. The Stability Programme was prepared in parallel with the national State Budget Strategy in consideration of the government’s goals and policies, which are stipulated in the Coalition Programme and other strategic documents.
The Ministry of Finance prepares an economic forecast twice a year (in the spring and summer), which is the basis on which the State Budget Strategy, Stability Programme and State Budget are prepared.
The latest forecast was published on September 15, 2016.