An amount of EUR 1.141 billion has been singled out in the 2021 Budget to support local companies in investing, attract foreign direct investments, invest in development zones, small and medium-sized enterprises, improve competitiveness and aid the tourism industry, Finance Minister Fatmir Besimi has said.
Besimi says that ‘health’ is the key word for the 2021 draft budget.
When the budget was created, he adds, public health, economic recovery, a sound system of public finances and functioning institutions have been all taken into consideration.
“Our citizens and their health come first and foremost. EUR 664 million is set aside for the healthcare to cover public health services, equipment as well as capital healthcare investments. Also, EUR 1,47 billion is intended for social protection to support at-risk groups, active employment measures as well as other measures that would secure conditions for decent living conditions,” Besimi says.
According to him, fiscal consolidation will be applied to provide stability in public finances of the 2021 Budget.
“Budgetary deficit of 4.9% of the GDP is projected for next year – 3.6 percentage points less compared to the projected 2020 budgetary deficit. Budgetary consolidation is planned in the medium term, i.e. to be reduced to -2.1% by 2025. In the medium term, it will also stabilize public debt below the Maastricht criteria level or 58.8% of the GDP in 2025,” the Finance Minister says.