Macedonian parliament adopts 2015 budget, sets deficit target at 3.5% of GDP

By bne IntelliNews October 21, 2014

The Macedonian parliament adopted the 2015 budget with a deficit target of 3.5% of GDP, down from 3.9% envisaged in the revision of this year’s budget, state news agency MIA reported.

The next year’s budget was supported by 65 lawmakers in the 123-seat assembly. There were two abstentions and no votes against, Alfa TV broadcaster reported. We remind that the biggest opposition party SDSM is boycotting the parliament.

The 2015 budget sees next year’s real GDP growth and inflation at 4% and 2%, respectively. Total budget revenues are planned at MKD 163.3bn (EUR 2.6bn), or 5% higher in nominal terms than the total revenues in the revised 2014 budget. Total expenditures are projected to rise by 3.8% to MKD 181.8bn. The budget deficit target for 2015 is thus MKD 18.5bn, down from MKD 19.6bn for this year.

Next year’s revenues from taxes and contributions are planned to increase by 4.8% to MKD 137.7bn. On the expenditure side, current expenditures are expected to rise by 4.2% to MKD 160.6bn and capital expenditures to edge up 0.6% to MKD 21.2bn.

Central govt budget, MKD mn      
  Revised Budget 2014 Budget 2015 Change, %
TOTAL REVENUES, incl.: 155,554 163,280 5.0%
Taxes and Contributions 131,376 137,672 4.8%
TOTAL EXPENDITURES 175,157 181,777 3.8%
Current Expenditures 154,073 160,569 4.2%
Capital Expenditures 21,084 21,208 0.6%
BUDGET BALANCE -19,603 -18,497 -5.6%
Source: Macedonian govt      
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

ArcelorMittal proposes to divest assets in Czech Republic, Macedonia and Romania

International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more

Macedonian MPs debate no-confidence motion against government

Macedonian MPs started debating a no-confidence motion filed by the opposition VMRO-DPMNE party against the government on April 11. The opposition party accused the government of increasing crime and ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Most Read

  1. Romanian developers get in the game
    2 days ago
  2. Putin and Trump trying to walk back Syria strike and sanctions tensions
    2 days ago
  3. What’s the cost of US sanctions on Russia?
    3 days ago
  4. E-commerce dramatically eats into foot traffic at Moscow’s leading shopping malls
    14 days ago
  5. Romania entrepreneur aims to put home-grown UAV defence technology industry on the map
    4 days ago
  1. Fears raised of US conditioning F-35s sale on Turkey cancelling S-400 deal with Russia
    24 days ago
  2. COMMENT: Whisper it – ‘Erdonomics’ could be driving Turkey to a meltdown
    11 days ago
  3. KRUK REPORT: Nadia Savchenko, Ukraine’s fallen hero
    28 days ago
  4. Romanian developers get in the game
    2 days ago
  5. Putin and Trump trying to walk back Syria strike and sanctions tensions
    2 days ago

Selected articles from our premium news/views wire IntelliNews Pro

Login to IntelliNews Pro
Get IntelliNews Pro

Reports

Dismiss