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Macedonian Government defines 2014 Budget

The Government has defined the 2014 Budget and prepared a review of this year's Budget, which will be forwarded for adoption to the Parliament on Friday.

Vice Premier and Finance Minister Zoran Stavreski said at today's press conference the review would encompass only two positions - funds are added to the Fund for Pension and Disability Insurance and the Ministry of Education and Science.

Pertaining to next year's Budget, he said it would amount to Denar 176,5 billion (EUR 2,83 billion), including a deficit of 3.5 percent, funded from domestic and foreign sources.

The budget stipulates increase of administration salaries, pensions and social transfers, as well as capital investments and agriculture subsidies.

Capital investments will increase by 20 percent, aimed towards road and railway infrastructure, education, health, energy, communal infrastructure, free economic zones.

The GDP is to rise by 3.2 percent and the inflation 3.3 percent.

The GDP is expected to gradually rise, but still depending from developments in Europe. According to the fiscal strategy, which has also been adopted, the GDP is to increase by 3.8 percent in 2015 and 4.5 percent in 2016.

The public debt will remain at a moderate level, not exceeding 37.6 percent of the GDP by 2016. 

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