Kosovo’s government approves the 2015 budget

Kosovo’s government approves the 2015 budget

Pristina, December 15, 2014/Independent Balkan News Agency

By Elton Tota

Kosovo’s government has approved today the 2015 budget, which amounts to 1 billion and 576 million Euros.

The budget will be sent to parliament for voting and it doesn’t include the 25% pay rise as it was planned by the previous government.

Minister of Finance, Avdullah Hoti, said that the 25% pay increase, which took place in 2014, will consist of a budget increase next year. He added that in contrast to 2014, next year there will be an increase of incomes as a result of the fight against informal economy and the collection of taxes.

“Revenues from taxes and customs are expected to increase by 7% and internal revenues are expected to increase by 17%. This comes as a result the collection of taxes taking place in the country and not on the border and fight against informal economy and other measures against money laundering, funding of terrorism and other financial crimes. There are also some revenues expecting to come from the Kosovo Agency for Privatization and Trust of Pension Savings amounting to 37 million Euros”, Hoti said.

Meanwhile, PM Isa Mustafa said that in this budget, there’s a discordance between incomes and expenses, but this can be later improved through parliamentary committees, something which has been allowed by the International Monetary Fund.

“This year’s revenues are expected to be 1 billion and 576 million Euros, while expenses 1 billion and 682 million. Revenues are expected to be 8,1% more than in 2014, while expenses will be 6% more than in 2014. There’s also discordance between revenues and expenses which are expected to be amended through other non fiscal revenues, in harmony with the agreements made by the International Monetary Fund, as far as the budget deficit is concerned”, Mustafa said. /ibna/