Macedonia's cabinet adopts draft 2012 budget.

By bne IntelliNews November 3, 2011
The cabinet has adopted the draft 2012 budget, a release on the cabinet's website informs. Budget revenues are projected to increase by 7.1% to MKD 159bn (EUR 2.6bn) next year, and budget expenditures are planned to rise by 5.6% to MKD 169bn. The budget is based on projected GDP growth of 4.5% next year, and inflation is forecast at 2.5%. Deputy PM and finance minister Zoran Stavreski comments that next year's economic activity is expected to be driven by an 8.5% increase in investments. The budget proposal envisages a 28% increase in capital expenditures. Stavreski said that they will continue the implementation of infrastructure projects that have been financed this year, and also plan launching new projects. The budget deficit will be financed from foreign sources mainly.
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