Estonia

Estonia's fiscal deficit measured by European Union methodology widened to 9.3 billion krooni (USD 870 million) in the first half, putting at risk the nation's bid to meet euro-adoption terms. The shortfall, including social security and state and municipal spending, was 3.17 billion krooni in the second quarter and a revised 6.13 billion krooni in the first, the statistics office said. That corresponds to 4.4 percent of GDP, according to Bloomberg calculations. The EU deficit limit of 3 percent of GDP this year is Estonia's main obstacle to adopt the euro by 2011 as revenue falters during the worst recession since 1991 independence. (Bloomberg)

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