Annual deficit estimated to go up to 5 percent

The Finance Ministry has announced that it is expecting the deficit for this year to reach five percent of the GDP, in comparison to last year’s 3.3 percent, due in large part to the recently approved church property restitution bill and problems with drawing of EU funds this year. In October, the ministry was still counting on an annual deficit of 3.2 percent, but Friday’s fiscal outlook shows a different prognosis.

Author: Masha Volynsky