The Cabinet on Wednesday approved the medium-term budgetary framework based on which the annual budget is to be thought up. It is estimated that the national economy in 2023-2025 will return to an upward trend, but at slower paces than it was anticipated earlier. In 2023, the growth rate will be 1.5%, in 2024 – 3.6%, while in 2025 – 4.2%, IPN reports.
It is estimated that the budget revenues until 2025 will rise by 28.9% on 2022, the public costs by 22%, while the budget deficit will represent 4.0% to 6.0% of the GDP. The state debt’s share of the GDP is projected to decrease from 40.4% at the end of 2022 to 39.5% at the end of 2025.
The rise in revenues will be supported by the customs and fiscal consolidation measures and economic recovery. The costs will be consolidated so as to ensure the sustainability of the budget, simultaneously protecting the social and investment cost allocations. The costs for the social sectors, such as social protection, health protection and education, will account for the largest part of the costs, according to the Government’s press service.
