“Legal acts that are currently in effect put me, as the minister of finance, under the obligation to submit a balanced budget draft to the government to ensure financial stability,” the minister told journalists after meeting with the political group of the Labour Party on Monday.
In her words, the 2017 budget is designed in light of two priorities – reducing income gap and providing adequate financing for national defence.
Approved in late April, the government’s stability programme envisages that a balanced budget should be approved next year, while the government should run a surplus of 0.8% in 2018 and 0.9% in 2019.
The 2016 budget revenue (excluding EU money) totals at €5.945 billion, while the sum including the EU funds is €8.046 billion.
The projected public spending is €8.686 billion, leaving the deficit at €640 million.