Kosovo Government Unveils Draft Budget

Kosovo’s government adopted its 2012 draft budget worth €1.5 billion today with revenues estimated at €1.36 billion, €1.12 billion of which are planned to be collected from Custums and the Tax Administration.

Kosovo’s Prime Minister Hashim Thaci stated that the draft budget will keep Kosovo on track, during the global crisis and assurs its economic growth.“We are determined to keep our fiscal sustainability and make sure to finance all public services for the benefit of the society. Nevertheless, Kosovo keeps its economic growth stable,” he said.

The Ministry of Finance said that this budget “reflects the strength of Kosovo as a state, maintains fiscal stability and is harmonized according to agreements with the IMF.”

Some 40.5 % of the overall budget, or €616 million, will go on capital investments, whereas €296 million is expected to be allocated to the 103 kilometre motorway linking Kosovo to Albania’s ports. €320 million are for other capital projects.

The sectors that will benefit the most from this budget will be agriculture, infrastructure, economy, education and culture.