Parliament on Tuesday adopted the 2022 national budget revision with 61 votes in favor. Total revenues are projected at Mden 245.8 billion, and total expenditures are projected at Mden 288.5 billion, transmits MIA.
The budget deficit is planned at Mden 42.7 billion (5.3% of the GDP), lower than last year.
According to the Ministry of Finance, the budget revision will secure funds to increase pensions and salaries in different areas of the public sector; funds for vulnerable categories of citizens; funds for companies to support wage increase in the private sector; additional funds for farmers for higher yields and stabilization of the prices of food as well as funds for new anti-crisis measures to protect living standards and the economy from price shocks.
Minister of Finance Fatmir Besimi, elaborating on the budget revision, pointed out that it needed to sustain macroeconomic stability, of crucial importance for the further growth and development for any economy, and to support the economy toward its return to pre-pandemic levels.
Current transfers are subject to an upward correction of about Mden 19 billion, including funds for anti-crisis measures. Within these funds, additional financial support of Mden 4.7 billion is planned to protect the standard of citizens and the liquidity of companies in conditions of a prolonged crisis on the world market of energy and primary products.
Additional subsidies and transfers for farmers have been projected in the amount of an additional Mden 3.2 billion to the originally planned subsidies to stimulate yields and productivity and buffer the price pressures of basic food products. Higher transfers are also planned for municipalities, primarily due to the growth of the block grants for raising salaries in preschools and primary and secondary schools by 15 percent.
With the revision, funds are provided for the growth of pensions, according to the new calculation methodology, according to the movement of the cost of living index in the amount of 50 percent and the increase in the average salary paid to all employees in the amount of 50 percent.
Also provided are subsidies for contributions to support employers for wage growth in the private sector, including the subsidizing effect of contributions to the minimum wage.
An additional Mden 2.4 billion will be provided for beneficiaries of the right to guaranteed minimum assistance. Capital expenditures have been revised down compared to the initial plan, but they are still at a record level this year — by Mden 8.8 billion or 37.8 percent higher than last year and by Mden 16.1 billion, or twice higher, than in 2020.