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Budget 2019, objectives for economic growth and social support

Budget 2019, objectives for economic growth and social support

The state budget for 2019 is in sync with the government’s key objectives for economic growth and social support.

Designed in support of further consolidation of the reforms undertaken to promote economic growth, employment, improved quality of services to citizens and the EU integration process, the 2019 budget is optimistic about economic growth, deficit reduction, revenue growth and cautious in spending to avoid any potential risk.

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For the next year, economic growth is projected to be 4.3%, the deficit at 1.9%, and revenue growth is 4.7%. While total incomes in the state coffers are expected to reach 486.4 billion leks.

Budget 2019, more resources are planned as a result of fiscal policies that will continue to be based on honest taxation and the promotion of private strategic investment in priority sectors.

This program is based on improving fiscal administration and minimizing informality in the economy. It aims at the gradual and targeted reduction of the tax burden through the reduction of tax rates and exemptions studied.

The 2019 draft budget aims to more fairly distribute the fiscal burden, reducing the burden on certain groups, categories and sectors

In social terms, the budget culminates in wage increases in the health, pre-university, defense and penitentiary education sectors with a 7% increase.

There is also an increase in salaries for employees of diplomatic missions. The number of beneficiaries is 64 865 employees at a cost of ALL 3 billion a year.

  • In healthcare, there are 4,650 doctors and 13,765 nurses, with a total of 18,415 employees with an annual fund of 1 billion;
  • In education, 35,783 teaching staff with an annual fund of about 1.4 billion ALL benefit;
  • Defense benefits 6,800 soldiers, with an annual fund of about 300 million ALL;
  • In the penitentiary system, 3,560 prison officers receive an annual fund of 177 million ALL.
  • In the foreign sector, more than 356 employees are employed, with an annual fund of 120 million leks.

By facilitating the fiscal burden in 2019, it benefits:

  • Over 15 thousand employees from lowering the rate of tax on middle-level wages;
  • 20 thousand businesses or over 50 thousand equity investors by reducing the dividend tax rate;
  • 11 thousand businesses benefit from the reduction of the profit tax rate by 2/3;
  • Over 50 Agricultural Cooperation Societies by Incorporating Incorporated Farmers;
  • From the reduction of various taxes such as packaging, there are cost reductions for dozens of operators in the field;
  • From the exemptions provided in the Value Added Tax, the activity of hundreds of economic operators in the pharmaceutical industry, agricultural machinery, and agricultural machinery is facilitated. While from the bonus for every birth, aiming at improving the demographic indicator of the average age of the population from which is estimated to benefit about 30 thousand families.

News Source: ATA

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