Gov't approves state budget changes: deficit doubles

Tirana Times
By Tirana Times March 22, 2020 20:38

Gov't approves state budget changes: deficit doubles


TIRANA, March 22 - The Council of Ministers recently approved the proposal of the Ministry of Finance and Economy to make changes in the 2020 State Budget, in order to cope with the COVID-19 emergency.
The changes indicate 162 million euros less in revenues or 3.9 percent of the total, while the budget deficit doubled, reaching -68 billion lek, equivalent to 3.9 percent of GDP.

Based on the Council of Ministers' decision, the total budget expenditures will increase by 9 billion lek, reaching 558 billion lek, from the 549 billion lek which were planned at the beginning of the year. Out of the additional amount, 1.2 billion will go cover current expenditures, mainly in the health sector, while 500 million lek will cover the payment of interests and 1.2 billion lek will cover special funds. However, capital expenditures will decrease by over 800 million lek.


The Ministry of Health and Social Protection will also be given an amount of 46 105 800 lek, in order to to meet the preliminary needs of those affected by the COVID-19.


Moreover, the Council of Ministers also approved the “Purchase of Personal Protection Material (MMP) for COVID-19” contract, worth 346 105 800 lek, part of which is the Ministry of Health and Social Protection as well as the joint operators, 'Farma Net Albania' and 'Euromed'.

Tirana Times
By Tirana Times March 22, 2020 20:38