|
|
|
Athens Macedonian News Agency: News in English, 16-10-19
CONTENTS
[01] The 2017 budget may cause recession, parliamentary budget office says
[01] The 2017 budget may cause recession, parliamentary budget office says
The government's 2017 state budget has a "strongly recessionary
character" although the effects might be somewhat offset by a change in
economic climate if the program review is completed, the parliamentary
budget office said on Wednesday in its report on the draft submitted
by the government.
The draft budget is currently being discussed at the parliament's
economic committee.
"The 2017 budget, as it is being prepared, will have on the short-term an
intensely recessionary character although the recessionary effects may
be partly offset by the change in economic climate after the completion
of the program reviews," the report states.
The budget office proposes a downward revision of the targets for primary
surpluses and a redistribution of the burden between taxes and expenses
in favour of the latter. The report also notes the need to reduce the
primary surplus targets until and after 2018.
"Therefore, in the coming months, the downward revision of primary
surpluses targets and the final settlement of the debt will become
increasingly important. The government and the opposition seem to agree
on this goal and they have the IMF as an ally [on this]," the report adds.
|
