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Nov 06, 2009 15:12 EEST
November 6 (SeeNews) - The Macedonian government has approved a draft budget for 2010, setting a deficit equivalent to 2.5% of the projected gross domestic product (GDP), slightly lower than the 2.8% gap planned for this year, the Finance Ministry said on Friday.
The government targets real economic growth of 2.0% next year, compared to a revised forecast for a 0.6% GDP contraction in 2009.
The budget gap for next year is projected at 10.460 billion denars ($252.8 million/169.9 million euro), the ministry said in a statement.
Budget revenue in 2010 is set at 143.257 billion denars with outlays at 153.720 billion denars.
The average annual inflation in 2010 is projected at up to 2.0%. This compares with a revised forecast for a consumer price deflation of 0.6% in 2009 and an inflation of 8.3% recorded at the end of 2008.
Macedonia's economy contracted by 1.4% year-on-year in the second quarter of 2009, compared to a 6.7% growth a year earlier. The country's GDP grew by 5.0% in 2008.
The Finance Ministry will now submit the draft budget to parliament for approval.
(1 euro = 61.5997 Macedonian denars)
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