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The government approved today the budget for 2024. It was the Minister of Finance Ervin Mete, who in a statement to journalists gave details of the new budget.
According to him, the budget will exceed revenues of over 7 billion euros, predicting an increase of 3.8% for the next year. According to him, within the year 2024 the objective set by the government to reach an average salary level of 900 euros per month should be achieved.
The draft budget foresees a fund of 11 billion lek for the further increase of salaries of general doctors, nurses and other health workers, teachers in pre-university education, law enforcement, defense and enforcement levels of the central and local administration. In total, the overall effect on the budget for the financing of this major reform in the salary system amounts to ALL 39 billion.
The indexation of pensions is also financed, which in the last two years reached the figure of about 25 billion ALL. Support for social protection and the needy strata follows, allocating about 33%, 1/3 of the general public expenditure for the pension scheme, economic assistance, disability payment, unemployment payment, social assistance, ex-persecuted, ex- owners, etc.
The financing of public investments programmed for 2024 will be over 5% of GDP, continuously supporting economic growth, to further develop tourism, agriculture and connectivity, as well as promoting employment. The investment package supports national and local infrastructure, to better respond to the growing tourism demand.
Mete said that the VAT for education and financial services is postponed.
" The government postponed for an indefinite time the plans for the inclusion of VAT in education and financial services, which were expected to be applied at the beginning of January 2024. After discussions with the IMF, it has been agreed to review the Medium-Term Revenue Collection Strategy , with a focus mainly on the improvement of fiscal administration ", he said.
As for the excise duty, Mete said: " Regarding the excise duty, even though the law provides for the indexation of the excise duty rate, based on the cumulative level of inflation every two years, starting from the unusual level of inflation in the past two years, this measure of the law will have to change ". The Ministry of Finance has proposed setting a ceiling of 1.5% indexation every two years.
Also, in the tax procedures, a series of rules have been established for the exchange of information with the counterpart tax authorities, in order to provide periodic information from the parent companies of international groups that have branches or subsidiaries operating in Albania. Furthermore, the procedures related to double taxation elimination agreements are clarified, so that there is more good administration in this area.
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