Budget 2010 under way

The draft budget for the coming year (2010) will be created by the current government, according to the Standard (7.07.2009). The newspaper explained that the different ministries have until the 31st of August 2009 to suggest proposals according to the official spokesman from the Ministry of Finances (MoF). The draft should be ready for September and should be forwarded to the government for approval. From there it would be submitted to parliament where it will be placed for adoption. MoF officials were quoted saying they believe the draft will be put on the parliament’s agenda in October and expect the discussions and suggestions of the parliamentary groups be over by the time that the yearly deadlines for the adoption of the budget approach.
According to the press, the priorities for the budget of the coming year are already set. Stradal infrastructure, education, and agriculture will be top of the list for 2010. Employment and health will also be eminent concerns. MoF experts inform that ministries and other budget-financed institutions have started the negotiations process with the Ministry of Finances and that the budget for 2010 is expected to be nearly 12 % higher than the current one. The Standard reported that the budget for 2009 amounted to nearly 5 billion US Dollars (USD), and expects in consequence an increase of nearly 600 million USD. The newspaper expects the financial means will be mainly used for reducing the budgetary deficit, for a differentiated increase of the wages, an increase of the pensions and for keeping up a high level of investment representing 7.2% of the Gross Domestic Product (GDP) in 2010.