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The Assembly approves the 2024 Budget, funds are removed from health care, and funds are added to education

2023-12-08 09:46:31Biznes SHKRUAR NGA REDAKSIA VOX

The Assembly approves the 2024 Budget, funds are removed from health care, and

The deputies of the Parliament of Albania approved yesterday in just 7 minutes, article by article and in their entirety the draft budget of 2024 and the draft laws of the fiscal package that accompany it.

The 2024 budget foresees 737.4 billion ALL public expenditures or 30.3% of the Gross Domestic Product, while budget revenues are planned at 676 billion ALL or 27.8% of the Gross Domestic Product.

The budget deficit for 2024 is planned at the level of 2.5% of the Gross Domestic Product and the Public Debt will decrease below the level of 60% of the GDP.

Personnel expenses are predicted at the level of 119.8 billion ALL, including the fund that will serve to increase salaries in the public administration, starting from July 1, 2024. The full effect of the salary increase is 39.1 billion ALL, starting from January 1 2025.

The 2024 budget for the pension scheme will finance about ALL 185.8 billion, providing the necessary funds for pension indexation as well as the annual bonus for pensioners.

The financing of public investments programmed for 2024 will be 5.3% of the Gross Domestic Product, or 128.5 billion ALL, focusing on projects that support tourism, agriculture and connectivity.

The education sector will be financed in total with 78.8 billion ALL or 3.2% of the Gross Domestic Product.

The Health sector will be financed with about 72.2 billion ALL in 2024 or 3% of the Gross Domestic Product.

The infrastructure and energy sector will be supported with 52.7 billion ALL or about 2.2% of the Gross Domestic Product.

For the defense sector, 2% of the Gross Domestic Product has been allocated, reaching for the first time the objective related to the commitments made within NATO.

The 2024 budget further supports justice reform, allocating 26.8 billion ALL for this sector, 4.8 billion ALL more compared to the 2023 budget.

As for the Local Budget, the expenses for this level of governance for the year 2024 are estimated at 71.1 billion ALL, with an increase of 10.4% compared to the 2023 Budget.

The 2024 budget is accompanied by a Fiscal Package, which aims at sustainability of legislation and fiscal policy, not undertaking significant fiscal measures, but placing emphasis on good fiscal administration.


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