2016 draft budget revealed

The general government deficit for next year is expected to reach 1.93% of GDP, before eroding in 2017 to 0.42%, and finally balancing out in 2018. This was outlined the draft budget for the years 2016-2018 which was approved today by 80 votes in parliament out of 135 lawmakers present. The total amount of deficit for public spending next year will be €1.557 billion. The budget also foresees a reduction in public debt to 52.1% of GDP. In preparing the budget, the Finance Ministry took into account the measures resulting from the government's social packages and other legislative changes. It also took into account increases in the salaries of public & civil servants of 4%. It includes two new reserves: a reserve for major investments and a provision for expenses related to tackling the migration crisis.