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Monday, February 6, 2023

Parliament endorses investment-boosting budget documents for 2022-23

By: P.T., STA

The National Assembly passed investment-oriented budget documents for the next two years under which the deficit is to be reduced from EUR 4 billion this year to EUR 2.47 billion or 4.6% of GDP in 2022 and EUR 1.52 billion or 2.6% of GDP in 2023.

The overall expenditure for 2022 is budgeted at EUR 13.94 billion, which is to be reduced to EUR 13.36 billion in 2023. This compares to just under EUR 15 billion estimated by the Finance Ministry for this year. Growth is planned on the revenue side, with EUR 11.47 billion in receipts planned in 2022 and EUR 11.84 billion the year later. Over EUR 2.2 billion is earmarked for investments over the next two years, compared to a little over EUR 900 million in each of 2019 and 2020.

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