Kosovo's public debt amounts to nearly one billion

The budget cuts amounted to 1.74 billion euros, which represents an annual growth of 5.0 per cent. Consequently, Kosovo's budget registered the primary budget deficit of 59.0m euros compared to the deficit of 61.1m euros in 2016, while as a percentage of the BPV, the primary deficit has scored 1.0 per cent to 0.9 per cent”, the ECC annual report reports.

As for the type of taxes, according to the CEC, there is a higher rate of indirect tax revenues, which amounted to 1.3 billion euros (7.2 per cent increase), while direct tax revenues scored 2.5 per cent and reached the value of 238.0m euros. Imitative revenues marked 6.0 per cent growth and reached an estimated 185.8m euros.

In 2017 all budget expenditures were characterised by growth. Government expenses for wages and wages marked slight growth of 1.2 per cent and reached the value of 550.0m euros. Subventions and transfers marked increases of 6.7 per cent and reached the value of 506.4m euros. Capital investments, which represent around 26.9 per cent of total budget expenditures, marked 5.4 per cent growth and reached 467.5m euros. Government spending on goods and services (including municipal spending) marked increases of 11.4 per cent and reached the value of 226.0m euros, RTKlive reports.

The “Borge public, in 2017, has reached 996.4m euros, which is for 16.8 percent higher than 2016. As a percentage of BPV, public debt has reached 16.6 per cent from 14.6 per cent in 2016. This public debt increase is attributed to increased domestic debt of 19.9 per cent (which has reached 574.3m euros), as well as to external public debt, which has scored 12.9 per cent growth, reaching 422.2m euros. The participation of the public external debt in a total of public debt has been reduced to 42.4 per cent from 43.8 per cent as it was in 2016”, the CEC's annual report said.