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Nov 17, 2023 12:19 EEST
November 17 (SeeNews) - Kosovo's parliament approved the 2024 budget bill with a deficit equivalent to 2.7% of the projected gross domestic product (GDP), it said.
GDP is expected to grow 7% to 10.5 billion euro ($11.3 billion) next year, the parliament said in a statement on Thursday.
Revenues of 3.0 billion euro and expenditures of 3.3 billion euro in 2024 are projected in the budget bill.
The expenditures are aimed at achieving stronger economy, increased employment, a more inclusive health system, education and a stronger rule of law, prime minister Albin Kurti told parliament.
As many as 370 million euro are earmarked for the education system, a 20% increase on the education budget for 2023, whereas 29 million euro are allocated to increase private sector employment.
The sectors of defence and security will receive a 22% yearly boost in financing under the approved 2024 budget, to 370 million euro.
The newly-approved budget bill sees Kosovo's debt-to-GDP ratio falling to 20.7%, from 22.6% in 2023.
($ = 0.921 euro)
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