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The 2025-2027 Macroeconomic and Fiscal Framework is revised/ Revenue and expenditure projections increase, public debt decreases

2024-06-20 15:20:00, Ekonomi CNA

The 2025-2027 Macroeconomic and Fiscal Framework is revised/ Revenue and

The Council of Ministers approved in yesterday's meeting the revised Macroeconomic and Fiscal Framework for the period 2025-2027, prepared by the Ministry of Finance.

The Macroeconomic and Fiscal Framework determines the strategic priorities of the government, projects the macroeconomic expectation in the medium term, as well as predicts the level of revenues and expenditures in the state budget.

Also, the document contains the objectives related to the main indicators of the fiscal policy such as the general fiscal balance (deficit), borrowing, public debt, as well as the primary fiscal balance.

The Ministry of Finance underlines that fiscal consolidation will continue to be the objective of the fiscal policy for the medium-term period 2025-2027, in order to ensure the macroeconomic stability of the country.

According to projections, the public debt is expected to decrease to 55.2% in 2027. The primary balance, as an important parameter of the long-term sustainability of public finances, returned to positive in 2023, will continue to be so, in line with with the fiscal rules of the Organic Budget Law.

The actual estimates for 2023, for the nominal increase in economic growth, brought a review of the main debt and deficit indicators, where for 2023 the debt indicator marked the level of 58.9% of GDP, the deficit indicator marked the level of 1.4% of GDP and the primary balance 0.7% of GDP.

Projections are that in 2024 total income will record a significant increase, reaching for the first time 28.8% of GDP, or 1% more compared to 2023, closed at the level of 27.8% of GDP, while it is projected that they will reach 29.1% of GDP in 2027.

In parallel with the increase in revenues and further fiscal consolidation (debt reduction, respect for the positive primary balance), the revised framework aims to maintain a healthy ratio of budget expenditures, where in particular public investments are expected to average 5.2% of GDP in each budget year. Also, it is predicted that the programmed expenses for the 2025 budget will be nearly ALL 796 billion, or 31.1./ Monitor.al