June 7 (SeeNews) - The Croatian parliament approved on Wednesday a revision of the state budget for 2023, cutting the projected deficit to 0.7% of the expected gross domestic product (GDP), down from 2.3% set in the initial plan.
The revision was adopted in a 77-26 vote in the 151-seat parliament, according to data published on the website of the parliament.
Last month, the government said it expects a consolidated general government budget deficit equivalent to 510 million euro ($547 million) in the proposed revision of the state budget. The projected budget revenue increases by 1.7 billion euro from the initially projected, to 26.6 billion euro, while overall expenditure rises by 1.4 billion euro to 28.1 billion euro.
The revision is not a result of any unexpected circumstances but rather due to technical reasons, finance minister Marko Primorac said back then.
In 2022, Croatia's consolidated general government budget was in surplus of 0.4% of GDP, compared to a revised deficit of 2.5% of GDP for 2021.
($ = 0.931 euro)