Budget review in May or June, announces Besimi

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The supplementary budget will probably be in the parliamentary procedure in May or June, announced Minister of Finance Fatmir Besimi on Thursday at the economic forum “A Gloomy Look Forward: Multiple Uncertainties Undermine Economic Prospects?” organized by Finance Think.

In his address, Besimi revealed that in the supplementary budget it is inevitable that the deficit will be higher.

The costs for furniture and vehicles will be reduced to zero and there will be restructuring inside the departments where there is not enough realization of projects to finance the new needs. As he said, better realization of the revenue plan is expected.

“The new normal is to learn to live in crisis, i.e. in addition to long-term measures, we must have buffers that will respond in the short term. In this case, we are talking about public debt of 60 percent which will reach 63.5 percent this year, and then gradually decrease and in 2026 to be below 60 percent. It is the same with the deficit. We started in 2021 with consolidation and from 8.1 percent we managed to finish at 5.4 percent. This year we planned to reduce the deficit of 4.3 percent and next year, but it is obvious that with the review we are preparing, we will go with a bigger deficit,” said Besimi.

 

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