What a review of Kosovo Budget Bill for 2020

In 67 votes for, no against, and one abstention, Kosovo Assembly deputies have approved the 7/07-euro Bill for the first reading. L-014 for completing and changing Law 07/ L-001 over the Business Divisions for 2020.

Budget failure, according to the Government, was holding the payment execution of Pacos Fiscal Emergency for workers, business rental aid, as well as other separate measures for the COVID-19 pandemic, writes Telegrafi.

Shortly after the first approval, the Finance Ministry has demanded that the draft law be prosecuted in parliamentary commissions as soon as possible so that the same one is brought to the Assembly for the final vote.

The ministry says that after its entry into force of the Law, there will be opportunity to execute remaining payments for all beneficiaries of the Emergency Package.

With the adoption of the bill on second reading and its entry into force, the legal opportunity for executing remaining payments for all beneficiaries of the pending Fiscal Emergency Package and all other budgetary divisions” will be established, the MF reports.

The revised bill envisions 1 billion of 788m euros, while the total of revised budget spending is 2 billion and 620m euros.

The revised budget for 2020 addresses all challenges created by the COVID-19 pandemic and finding a way to finance the implementation of the governing programme.

In addition to Pacos Emergency Fiscal, the Kosovo government in the Bill has created a fund that will serve for economic recovery.

With the budget review done, 600m euros have been mobilised to cover the lack of revenues of 232m euros as a result of the pandemic, and also to create the Fund for Economic Regainment in many of the 385m euros.

According to the 2005-23 Government Programme, presented by the Government of Kosovo, over 1 billion euros for two years are expected to be mobilised.

These measures will be summed up under the programme for economic recovery following the COVID-1950 pandemic, which will mobilise over 1 billion euros during 2020 and 2021 to be introduced into the economy. The Economic Recovery Fund will be established after the COVID-19 pandemic, where the means that will be dedicated for economic and social support purposes will be collected to overcome the consequences of pandemic”, the programme said.

We remember that on March 15th, with 63 votes per, no counter and abstention voting Kosovo's 2020 budget worth 2 billion and 357m euros