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Macedonia targets budget gap of 3.5% of GDP in 2014 - media

Macedonia targets budget gap of 3.5% of GDP in 2014 - media

SKOPJE (Macedonia), November 13 (SeeNews) – Macedonia’s parliamentary budget committee launched the debate on the draft state budget for 2014 with a deficit equivalent to 3.5% of the projected gross domestic product (GDP), the same as this year's target, local media said on Wednesday.

Budget revenues are projected at 158.2 billion denars ($3.5 billion/2.6 billion euro) next year, while budget expenditures are seen at 176.5 billion denars, news agency MIA ( said.

The government expects the country’s economy to grow by a real 3.2% in 2014 while annual average inflation is seen at 3.3%, MIA said.

According to the latest central bank projections, Macedonian economy is expected to grow by 3.3% in 2013 while the average inflation is seen at 2.8% this year.

The capital investments are projected at 22.5 billion denars for 2014, 20% up on the year.

The level of the state debt is expected to stay moderate and not to exceed 37.6% by 2016, it said.

(1 euro = 61.5046 Macedonian denars)