September 20 (SeeNews) - Macedonia's parliament has increased the projected 2016 budget deficit to 4% of GDP to reflect increased expenditure called for by last month's devastating floods in the country.
The parliament said on its website on Monday that it unanimously approved a second revision to the 2016 budget, increasing planned expenditures to 197.4 billion denars from 195.5 billion denars, while keeping revenues unchanged at 174.3 billion denars.
Thus, the planned budget deficit will expand to 23.1 billion denars, or 4% of the 2016 GDP, from the previously forecast 21.2 billion denars, or 3.6% of GDP, according to documents published on the parliament's website.
A flash rainstorm hit the the capital Skopje and the towns of Gostivar and Tetovo, in the west of the country, in early August, with 33 litres per sq m pouring down in just two and a half hours. The storm killed 22 people and caused huge damage to buildings and public infrastructure.
At the end of July, Macedonia's parliament revised the 2016 budget for the first time, cutting revenues to 174.3 billion from 177.3 billion denars and slashing expenditures to 195.5 billion denars from 196.3 billion denars. The revision expanded the planned deficit to 21.2 billion denars from 18.98 billion denars.
(1 euro = 61.6201 denars)