Amendments to the Budget Act Will Be Submitted to Parliament by August 31st at the Latest
4 Articles
4 Articles
"This shows the severity of the inherited situation, and also that the mistakes and bad decisions of the previous sixteen years cannot be corrected in a few months," the Ministry of Finance writes.
The government is setting a deficit target of 7.5 percent for 2026, because it cannot be reduced further this year due to the inherited economic situation, drought and energy crisis.
The public debt ratio could rise from 74.6 percent of gross domestic product to 77.5 percent in 2026.
The government is amending the 2026 budget, the Ministry of Finance announced. The aim of the amendment is to ensure that the budget law reflects actual economic and public finance processes, while also strengthening the transparency, predictability and credibility of public financial management. The Ministry of Finance submitted the draft amendment to the Fiscal Council for preliminary opinion on August 17 and plans to submit it to Parliament n…
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