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Article 104 of The Treaty establishing the European Community comprises a commitment for the EU Member States to avoid excessive budgetary deficits. In particular, Member States shall comply with budgetary discipline by respecting two criteria defined in the Annex to the Treaty, the Protocol no 20 on the excessive deficit procedure. The reference values not to be exceeded are: 3% for the ratio of the public deficit to the GDP at market prices 60% for the ratio of the public debt to the GDP at market prices Article 104 also sets out a procedure, known as Excessive Deficit Procedure, to be

Please note: Trade with the United Kingdom After the United Kingdom left the European Union on 31 January 2020, there is a transition period until 31 December 2020. As of 1 January 2021, the transition period will be over, which means that from 1 January 2021 only trade between Northern Ireland and Estonia will be recorded in Intrastat. The partner country code is XI. The rest of the trade in goods between Estonia and the UK is subject to customs formalities. To identify the country of origin, GB continues to be used for the United Kingdom. There is no need to distinguish Northern Ireland from