
Gross debt in Estonia
General government debt of Estonia refers to the debts of the state, their states and municipalities, and also of public sector institutions such as social security funds.The government debt in the period from 2000 to 2021 was between 290.8 million and 6.5 billion USD. The highest level of the last years at seven billion US Dollar was reached in 2021. The budget deficit in the same year was 901.8 million USD.
Based on the number of inhabitants, this is a debt of 4,919 USD per person. For comparison, the average debt per person in the same year in the European Union was 35,341 USD.
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Gross debt of the last 21 years in billion USD
This is how much debt Estonia can afford
In accordance with the Maastricht Treaty, government debt in Estonia is aggregated for the federal, state and local governments as well as state institutions, and therefore includes the debt of all public budgets. As it is gross debt, the government's assets are not deducted. According to the EU convergence criteria, each EU country must meet certain requirements. For the debt budget, these two conditions in particular are decisive:- Consolidated gross debt may not exceed 60% of gross domestic product (GDP).
- The budget deficit, i.e. new annual debt, may not exceed 3% of GDP.
At the end of 2021, the debt of all EU countries averaged 92 percent.
Year | Estonia total | % of GDP | per capita | EU per capita |
---|---|---|---|---|
2000 | 0.29 bn USD | 5.11% | 208 USD | 10,328 USD |
2001 | 0.30 bn USD | 4.77% | 215 USD | 10,404 USD |
2002 | 0.42 bn USD | 5.66% | 302 USD | 11,368 USD |
2003 | 0.55 bn USD | 5.60% | 403 USD | 14,148 USD |
2004 | 0.62 bn USD | 5.11% | 456 USD | 16,162 USD |
2005 | 0.66 bn USD | 4.70% | 489 USD | 16,918 USD |
2006 | 0.79 bn USD | 4.63% | 585 USD | 17,549 USD |
2007 | 0.85 bn USD | 3.76% | 630 USD | 19,574 USD |
2008 | 1.10 bn USD | 4.51% | 821 USD | 22,721 USD |
2009 | 1.42 bn USD | 7.24% | 1,065 USD | 23,701 USD |
2010 | 1.30 bn USD | 6.66% | 977 USD | 25,145 USD |
2011 | 1.43 bn USD | 6.16% | 1,077 USD | 28,417 USD |
2012 | 2.26 bn USD | 9.84% | 1,712 USD | 27,784 USD |
2013 | 2.57 bn USD | 10.23% | 1,949 USD | 30,021 USD |
2014 | 2.83 bn USD | 10.62% | 2,153 USD | 30,832 USD |
2015 | 2.30 bn USD | 10.07% | 1,752 USD | 26,170 USD |
2016 | 2.41 bn USD | 10.00% | 1,829 USD | 26,655 USD |
2017 | 2.46 bn USD | 9.12% | 1,864 USD | 27,535 USD |
2018 | 2.51 bn USD | 8.20% | 1,900 USD | 29,172 USD |
2019 | 2.66 bn USD | 8.55% | 2,002 USD | 27,927 USD |
2020 | 5.82 bn USD | 18.56% | 4,379 USD | 32,227 USD |
2021 | 6.55 bn USD | 17.60% | 4,919 USD | 35,341 USD |
Comparison of gross debt per capita with the European Union in U.S. dollars
Budget deficit in Estonia

The budget balance in Estonia in the period between 1998 and 2022 varied between -1.72 billion euros and +604.94 million euros. In 2022, Estonia reached a balance of -353.18 million euros.
In ratio to population, this equals a new indebtedness of 265 euros per capita in Estonia in 2022. For comparison, the average debt per capita in the European Union in the same year was 1,254 euros.
Budget deficit and surplus in the last 24 years
Year | Estonia total | % of GDP | per capita | EU per capita |
---|---|---|---|---|
1998 | -38.24 M USD | -0.67% | -28 USD | -398 USD |
1999 | -197.71 M USD | -3.43% | -142 USD | -204 USD |
2000 | -13.02 M USD | -0.23% | -9 USD | 112 USD |
2001 | -3.94 M USD | -0.06% | -3 USD | -299 USD |
2002 | 19.86 M USD | 0.27% | 14 USD | -565 USD |
2003 | 164.93 M USD | 1.67% | 120 USD | -840 USD |
2004 | 288.46 M USD | 2.37% | 212 USD | -920 USD |
2005 | 157.38 M USD | 1.12% | 116 USD | -822 USD |
2006 | 493.45 M USD | 2.90% | 366 USD | -568 USD |
2007 | 604.94 M USD | 2.69% | 451 USD | -360 USD |
2008 | -647.15 M USD | -2.66% | -484 USD | -1,085 USD |
2009 | -431.69 M USD | -2.20% | -323 USD | -2,021 USD |
2010 | 37.12 M USD | 0.19% | 28 USD | -1,970 USD |
2011 | 251.95 M USD | 1.09% | 190 USD | -1,463 USD |
2012 | -66.17 M USD | -0.29% | -50 USD | -1,220 USD |
2013 | 45.42 M USD | 0.18% | 34 USD | -1,027 USD |
2014 | 188.51 M USD | 0.71% | 143 USD | -851 USD |
2015 | 25.96 M USD | 0.11% | 20 USD | -574 USD |
2016 | -99.18 M USD | -0.41% | -75 USD | -421 USD |
2017 | -128.00 M USD | -0.48% | -97 USD | -263 USD |
2018 | -169.36 M USD | -0.55% | -128 USD | -134 USD |
2019 | 37.50 M USD | 0.12% | 28 USD | -191 USD |
2020 | -1,715.58 M USD | -5.47% | -1,290 USD | -2,317 USD |
2021 | -901.81 M USD | -2.42% | -678 USD | -1,852 USD |
2022 | -353.18 M USD | -265 USD | -1,254 USD |
(negative numbers = deficit)