Kosovo's government said on March 10 it approved the 2020 state budget setting the deficit at 2% of the planned GDP.
The budget was endorsed with a delay as the country held a snap election in October 2019 and only formed the new government led by PM Albin Kurti four months later. March was the deadline for the 2020 budget to be endorsed, with experts warning that without this, Kosovo could collapse financially.
Total revenues in the 2020 state budget will amount €2.2bn, up 7% from a year earlier, while total expenditures are set at €2.36bn, the government said.
The economic growth for 2020 is projected at 4.2% and an annual inflation at 1.3%.
The budget bill was sent to the parliament for approval.
Kurti promised that the state budget under the new cabinet will be completely reoriented from "unnecessary spending" towards projects that directly reduce unemployment, with a focus on tackling youth and women's unemployment, improving education, health and the military.
The World Bank projected Kosovo to end 2019 with a deficit of below 3% of the country’s GDP.
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