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Ekonomia

The state budget is revised, expenses are increased by 13 billion lek, the Second Social Resistance Package worth 120 million dollars is approved, here are the categories that benefit

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As the "SOT" newspaper had warned, the Government has revised the 2022 Budget, increasing expectations for income. The normative act entered into force after it was published earlier this week in the Official Gazette, which changes the income, expenditure and deficit limits. With the latest changes, budget revenues increase by ALL 30 billion, going to ALL 576 billion from the 546 billion ALL that were programmed in the first normative act that was approved in March. From the additional income of 30 billion ALL, 12 billion ALL will be used to reduce the budget deficit and 13 billion ALL for increasing public spending. Also, general budget expenditures reach 660.6 billion ALL with the latest changes, from 647.7 billion that were programmed in March. "From the increase in expenses, about 12 billion lek goes to the "Resistance Package" and the Fund of 1.6 billion lek goes to the item "Internal capital expenditures", in the program "Execution of various payments" of the Ministry of Finance and Economy planned for dealing with the effects arising from the implementation of normative act no. 10, dated 18.5.2022, "On the financial compensation of the price for some construction materials, according to the stipulations in the public contracts for work, as a result of the special situation created in the market during the year 2022", the decision states. Meanwhile, the budget deficit reaches -83 billion ALL from -100.8 billion which was the plan in the previous normative act. The actual deficit of the state budget can be financed through net borrowing from internal sources up to the maximum limit of 33,000 million ALL. The rest of the financing of the actual state budget deficit is financed through net borrowing from foreign sources. Meanwhile, the limit for the annual increase of the total existing debt stock of the central government and that guaranteed by the central government for the benefit of third party beneficiaries for the year 2022, without including the possible effects of the exchange rate change, is up to 48,392 million ALL.

Social Resilience Package

But as the Government has been mentioning the Package of Social Resistance to the Consequences of the Crisis for several months, for the first time the amount that the Ministry of Finance will use for this purpose has also been disclosed. The "SOT" newspaper disclosed the latest budget changes undertaken through the Normative Act of the Government approved on July 29. There, the Government determines the amount of 12.1 billion lek, approximately 120 million dollars of contingency fund for the Package of Social Resistance to the Consequences of the Crisis, where there are several categories that benefit, starting from pensioners, to persons with disabilities, invalids or even those who are treated with economic aid from the Municipality or the state. At the same time, the Government has increased the reserve fund by 3.3 billion lek, about 33 million dollars, which in the initial budget of this year was 2.9 billion lek. The sum of 120 million dollars does not seem to cause much pain to the Government. This is due to the excellent level of income that the state budget is experiencing due to the increase in product prices. "In Article 11, the following changes are made: The first paragraph is changed, as follows: "State budget expenditures, according to the main groups, are: central budget expenditures, 495,256 million ALL; budget reserve fund 3,350 million ALL; contingency for the Resilience Package. Social for Consequences of the Crisis 12 100 million ALL; contingency for debt risks 4 800 million ALL", the decision states. "In Article 11, the following changes are made: The first paragraph is changed, as follows: "State budget expenditures, according to the main groups, are: central budget expenditures, 495,256 million ALL; budget reserve fund 3,350 million ALL; contingency for the Resilience Package. Social for Consequences of the Crisis 12 100 million ALL; contingency for debt risks 4,800 million ALL", the decision states. "In Article 11, the following changes are made: The first paragraph is changed, as follows: "State budget expenditures, according to the main groups, are: central budget expenditures, 495,256 million ALL; budget reserve fund 3,350 million ALL; contingency for the Resilience Package. Social for Consequences of the Crisis 12 100 million ALL; contingency for debt risks 4,800 million ALL", the decision states.