June 18 (SeeNews) - Kosovo's new government is targeting a deficit equivalent to 6.5% of gross domestic product (GDP) under the revised 2020 budget addressing the effects of the coronavirus crisis, the prime minister's office said.
In its initial 2020 budget the country projected a deficit equivalent to 2.0% of (GDP).
Under the draft budget approved by the government on Wednesday, Kosovo is expecting revenues of 1.79 billion euro ($2 billion), compared with 2.2 billion euro planned initially, the prime minister's office said in a statement.
Total expenses are projected at 2.6 billion euro, compared with 2.36 billion euro in its initial plan.
The government expects Kosovo's economy to shrink 3% in 2020 and to bounce back to a 5% growth in 2021.
The country has registered a total of 1,486 coronavirus cases since the outbreak, with the death toll standing at 33.
Kosovo's parliament earlier in June elected a new coalition government led by Avdullah Hoti of the Democratic League of Kosovo (LDK) after the previous coalition government lost a no-confidence vote in March.
($ = 0.8883 euro)