ATA News

Budget review, Mete: We expect economy to grow to 3.7%

Minister of Finance and Economy, Ervin Mete, outlined the Normative Act for the revision of the 2023 budget at the meeting of the Parliamentary Committee on Economy and Finance.

According to him, the first review of the 2023 budget, which the Government approved through this Normative Act, is focused on enhancing the efficiency of the use of public funds, through the reallocation of savings and additional income towards best-performing projects, ensuring the achievement of the macroeconomic and fiscal objectives laid down in the approved plan of the 2023 initial budget.

“More specifically, this act reflects an increase of about ALL 7.5 billion in revenue, as a result of the positive performance in collection of tax revenue for the 9 month period of 2023. The reallocation of ALL 45.8 billion between the budget lines of current and capital expenditures, as part of the mobilization of the entire public expenditure plan for the remainder of 2023, especially the acceleration of projects with significant progress. Keeping the budget deficit unchanged, as was foreseen in the initial 2023 budget. Meanwhile, the public debt reflects the decrease in financing from foreign projects and the increase in financing from other financial instruments such as the Eurobond and concessional financing,” he said.

Regarding income, Minister Mete said that the general income plan,