Revised budget for this year  €3.96 billion, 6.8% GDP deficit


Under the revised budget, adopted by the government at Thursday’s session, total expenditures stand at EUR 3.95 billion and it is increased by 1.4 percent compared to the original 2020 budget, Finance Minister Nina Angelovska said at today’s press conference.

According to the amendments to Macedonia’s 2020 budget, revenues are planned at EUR 3.2 billion, reduced by 11.5% i.e. EUR 414.6 million compared to the initial budget. Angelovska said the deficit is positioned at 6.8% of the GDP, which is in line with the European Commission projections.

“The budget was revised to recover and restart the economy amid the COVID-19 pandemic and the goal is to realistically present the expectations as a result of the health and economic blow caused by COVID-19,” the Minister stated.

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