TIRANA (Albania), October 30 (SeeNews) – Albania's government said it has approved the 2019 draft budget which projects a deficit equivalent to 1.9% of the gross domestic product (GDP).
The draft budget is built on projections for GDP growth of 4.3% in 2019, the finance ministry said in a press release last week.
It focuses on fiscal consolidation, debt reduction and revenue growth, giving priority to public investment, the statement added.
The budget envisages revenues of 486.5 billion leks ($442 million/338 million euro) and expenditures of 519.4 billion leks.
In comparison, Albania's 2018 revised budget envisages revenues of 464.3 billion leks and expenditures of 496.7 billion leks, resulting in a deficit of 2% of the GDP.
The government plans to cut public debt-to-GDP ratio to 64.9% in 2019 from around 70% this year.
The budget also plans public investments at the equivalent of 5% of GDP.
(1 euro = 123.907 leks)