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ECONOMY Parliament to hold plenary session to discuss budget revision

Parliament is set to hold Thursday a plenary session to discuss revised 2020 budget.

The supplementary budget adopted by the government, incorporates amendments accepted at the debate of the Parliament’s Committee on Finance and Budget. According to the Rules of Procedure, the revised budget debate can last up to 5 days.

The revised 2020 budget proposal provides funds for the implementation of the fourth set of anti-crisis measures.

The total revenue with the amendments to the 2020 budget is planned at a level of Mden 196.3 billion, i.e. at an almost identical level to the plan, given that previous amendments to the budget were planned at a real level, i.e. 11.5 percent lower compared to initial budget forecasts. Total expenditures are planned at a level of Mden 252,8 billion, i.e. 4.1 percent or Mden 10 billion higher compared to the revised budget.

Based on such revenues and expenditures, the deficit stands at Mden 56.6 billion, i.e. 8.49 percent of GDP.

Considering the circumstances, changes have been made with regards to the initial projections of the expenditure side of the Budget, for the purpose of implementing the activities within the fourth set of measures and additional funds for the health sector, used for procurement of medicines, immunization of population and other necessary funds and support for the employees directly involved in the fight against the pandemic.

Current transfers are projected at Mden 177.3 billion, a Mden 11.2 billion increase compared to the 2020 plan, relating to measures within the fourth set of economic measures in the fight against the coronavirus pandemic, used for direct support of private consumption.

MPs will also discuss proposal for election of a judge of the Constitutional Court, the draft laws for ratification of the Additional Protocol on Privileges and Immunities of the Organization for Black Sea Economic Cooperation, the Protocol on Status of International Military Headquarters Set up Pursuant to the North Atlantic Treaty, and the North Atlantic Treaty Agreement on the status of their forces.

The parliament’s agenda also includes draft laws amending the Law on Labour Relations and the Law on Pension and Disability Insurance, the draft law on resolving the dispute between the Government of the Republic of North Macedonia and Makpetrol AD ​​Skopje by agreement, the draft law on borrowing of the Republic of North Macedonia with a loan from the International Bank for Reconstruction and Development – World Bank under the Loan Agreement for Financing Public Sector Energy Efficiency Project, as well as the draft law on amending the Law on Private Security Services.

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