September 8 (SeeNews) - Albania's government projects a budget deficit equivalent to 4.2% of the planned gross domestic product (GDP) in 2022 under a draft revision of the annual budget presented to the parliamentary committee on economy, local media reported.
In the initial budget for 2022, the government projected a budget deficit equivalent to 4.5% of GDP.
The proposed revised budget includes an aid package of 6.1 billion leks ($51.87 million/51.89 million euro) to cope with the economic crisis caused by the increasing energy prices, Albanian Daily News reported on Wednesday, quoting finance minister Delina Ibrahimaj.
The budget revision anticipates a GDP growth of at least 3.2% in 2022.
The revised budget also envisages an increase of budget revenues by 30 billion leks and a rise in budget expenses by 13 billion leks, the report read.
The public debt-to-GDP ratio is expected to stand at 70% at the end of 2022.
In 2021, Albania's GDP grew by 8.54% after decreasing by 3.48% in 2020, according to preliminary estimates released by INSTAT earlier this year.
(1 euro = 117.557 leks)