A hearing on the amended draft budget for 2016 should start today at the plenary session of the Parliament of Macedonia.
As the Minister of Finance Zoran Stavreski stated, the essential features of the draft budget for 2016, will be reducing the budget deficit from 3.6 percent from this year to 3.2 percent for next year.
Increasing funds for pensions, social benefits and capital investment, I.e. an increase of pensions and welfare payments by 5 percent and a significant increase in capital investment to encourage the development of the budget are the aims for upcoming year.
Total revenues of the budget for next year are projected at 176.804 billion denars, which is approximately 6 percent higher than 2015. Total expenditures are projected at 195 788 000 denars which is 4.7 percent higher than in 2015.
The budget deficit will amount to 18 984 million denars which means that GDP will be up by 3.2 percent.
Capital investment,as he announced earlier, we have planned on 25. 092 million denars, which means an increase by 12.9 percent compared to 2015.
Economic growth of GDP is estimated at 4 percent and inflation of 2 percent.
