Besimi: Budget Review to be finalized by week’s end

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The Budget Review is expected to be finalized and submitted to the government by the end of the week and enter parliamentary procedure some time next week, said Finance Minister Fatmir Besimi.

It is set, he added, to provide funds for implementation of the fourth set of anti-crisis measures and improving economic activity.

“Direct fiscal implication of the fourth set of anti-crisis measures amounts to EUR 160 million. A portion will be covered by the rebalance and the rest by loans. The Finance Ministry has already been working on the review and will hopefully finalize it by the end of the week. Once it’s adopted by the government, it will enter parliamentary procedure,” Besimi said.

Regarding budget cuts, he underlined that funds will be re-allocated to improve economic activity.

“Pressure will be put on ministers to plan and implement projects. Those who perform well will be allocated more funds,” Besimi said, adding that capital investments will be adjusted through budget realization over the course of the year.

Moreover, the Finance Minister noted that public debt might increase in the short term due to the crisis, but will soon stabilize if macroeconomic and financial stability is retained.

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