Following the adoption of the budget revision, the implementation of new targeted anti-crisis measures will begin as soon as possible, said the Ministry of Finance, writes MIA.
According to the Finance Ministry, about EUR 76 million are projected in the budget revision for anti-crisis measures, as well as subsidies to increase the minimum wage, funds to increase pensions, and additional funds for subsidies for farmers.
“Support for the citizens and the economy will continue, as well as the commitment to prudent fiscal policy, which is aimed at reducing the budget deficit in the medium term,” the Finance Ministry said in Thursday’s press release.
Despite the widening of the deficit, adds the press release, with the budget revision it is still below the 2021 level and significantly below the 2020 crisis level.
“Narrowing the budget deficit by improving the collection of budget revenues, measures to reduce and prevent shadow economy; reducing and restructuring budget expenditures, cutting non-priority and non-essential expenditures, greater support to the private sector and innovation to strengthen competitiveness, social component to support the most vulnerable categories of the population and revision of methodologies for transfer and subsidies, changes in the sources of financing the budget deficit, greater diversification of the sources of financing the budget deficit, funding and implementation of certain projects through public-private partnerships and establishing a Development Fund is planned in the medium term,” the press release reads.
According to the Finance Ministry, the first set of measures has cushioned the initial blow of the crisis, preventing price hikes and speculative price growth, thus preventing higher inflation rates.
The measures implemented so far to combat the price and energy crises are worth around EUR 615 million.
