Macedonia’s finance ministry mulls revision of 2018 budget

By bne IntelliNews September 26, 2018

Macedonia’s finance ministry will decide whether to revise the 2018 state budget on September 28, media reported on September 25 citing Prime Minister Zoran Zaev. 

Macedonia plans a budget deficit of 2.7% of GDP in 2018, down by 0.2pp from a year earlier, based on an economic growth forecast of 3.2%.

“I think there is no need for budget revision as we do not have new needs that should be realised, but the finance ministry should express its opinion,” Zaev was cited by state-run news agency MIA.

According to the latest finance ministry data, Macedonia's central government consolidated budget deficit narrowed 30% y/y to MKD7.5bn (€121.9mn) in the first seven months of 2018.

The gap was equal to 41.1% of the total gap planned for this year. 

Related Articles

Attempts under way to send Turkey “cap in hand” to IMF: Erdogan

If you find it hard to imagine Turkish President Recep Tayyip Erdogan being dragged kicking and screaming into a new International Monetary Fund (IMF) loan programme, then you’d be darn right ... more

US sanctions to drive Iranian GDP to 4.5% contraction in 2019 prior to 2020 growth of 0.9%: World Bank

The impact of US sanctions on Iran’s economy is projected to peak this year, with growth resuming in 2020, according to the June issue of the World Bank’s ... more

Polish rate setters hold again as spike in inflation causes little stir

Poland’s Monetary Policy Council (MPC) left interest rates at their current record low of 1.5% on June 5, hinting once again that no tightening of monetary policy is currently on the ... more

Dismiss