Macedonian parliament adopts revision of 2013 budget.

By bne IntelliNews November 4, 2013

The parliament passed the revision of 2013 budget, which envisages raising the budget deficit target to 3.9% of GDP from 3.6% of GDP (MKD 17.7bn or EUR 288mn) until now, Kanal 5 TV broadcaster reported. The revision was supported by 58 lawmakers in the country’s 123-seat parliament. The MPs from the biggest opposition party SDSM did not vote. The opposition did not submit any amendments either.

The deficit will rise due to increases in planned expenditures, including additional amounts for the pension and disability insurance fund and the ministry of education and science. There are no significant changes in the other items of the budget.

The balance of the central government budget showed a deficit of MKD 15.8bn in Jan-Sep 2013. The nine-month gap is equal to 3.2% of the projected 2013 GDP and compares with a deficit of MKD 12bn in Jan-Sep 2012. Total budget revenues dropped 2.7% y/y in real terms to MKD 103bn in the first nine months of this year, while total expenditures rose by 0.5% y/y to MKD 118.8bn.

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