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Country Report Macedonia

  • ID: 2123793
  • July 2015
  • Region: Macedonia
  • 28 Pages
  • The Economist Intelligence Unit

Data from the Ministry of Finance, released on July 23rd, show that the budget deficit stood at Den9.5bn (US$170m) in January-June 2015, equivalent to 1.7% of GDP. Although the fiscal performance in the first half was solid, we believe that the authorities' introduction of a supplementary budget in mid-July will lead to a deterioration in the fiscal performance during the second half of the year.

Official data show that total revenue stood at Den78.13bn in the first half of 2015, up 14% year on year. Meanwhile, expenditure rose by 5% year on year to Den87.65bn, in line with government projections.

The government announced on July 16th that because of the strong first-half performance, it had decided to introduce a supplementary budget, adjusting its full-year projections. The finance ministry will increase 2015 expenditure by Den5.2bn. The additional spending will be funnelled to infrastructure projects including an extra Den370m for the construction of the Klecovoe-Stip gas pipeline and Den220m to renovate educational facilities.

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Country Report Macedonia

Government adopts supplementary budget
Event
Analysis
Impact on the forecast

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Note: Product cover images may vary from those shown

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