The draft budget for 2018 is 3.4 billion euros, the excise tax on oil will increase

The draft budget for 2018 is worth 3.4 billion euros, announced Minister of Finances Dragan Tevdovski. Today, he presented the figures to the public, civil society organizations and representatives of the chambers of commerce.

The budget deficit is planned at 2.7% of the domestic gross product versus 2.9% last year.

This, as Tevdovski said, is aimed at gradually reducing the debt and fiscal consolidation.

The progressive personal income tax will start to apply from January 1st, 2019 and for now there will be no major tax changes. Tevdovski noted that this is so that he would not have to rush to pass the legal solution, and to have enough time for debate and to harmonize attitudes with relevant international institutions on this issue.

In terms of revenues, the Ministry of Finance has been paying an increase in the excise tax on oil for 3 denars, ie to 3,54 denars with VAT.