State to Be Able to Spend More as of Next Year

State to Be Able to Spend More as of Next Year

The second year of the Borissov cabinet’s term will be more comfortable from a budget point of view. The treasury will be able to allow itself to hold the deficit lower than the planned level, increasing at the same time the overall expenses by nearly 920 million euros. This will give the government an opportunity to fund more seriously separate sectors of priority. That all became clear after the initial stage of consultations on the 2016 draft budget with representatives of the political parties, supporting the cabinet. Debt to the tune of some 231 million euros will be saved from GDP due to the deficit’s shrinking from 2,5 to 2 percent next year. The higher expenses in 2016 are now possible due to the slight increase of the economic growth, the better collectability of budget revenues and thanks to the limitation of expenses in 2015. PM Borissov has already declared his expectation for 2015’s closure with a deficit of 2, instead of the planned 3 percent. Thus the improvement implemented for 2016 becomes significant.

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