Today the Minister of Finance of Andorra (Pyrenees) Jordi Cinca has introduced in Parliament a draft budget of the principality-2017.
The document has been preliminarily approved by the Government of Andorra last week.
According to the draft budget 2017, total revenues of the budget make 415.119.073,56 € (in 2016 – 396.008.372,85 €), the expenditure – 440.729.881,87 € (in 2016 – 350.690.959,31 €). The main spendings, in particular, include the cost of the reform of CASS (Caixa Andorrana de Seguretat Social) and SAAS (Servei Andorrà d’Atenció Sanitària).
Thus, the budget deficit compared to the last year decreases by 9.27%.
Speaking about the draft budget for 2017, Jordi Cinca said that the budget parameters indicate the financial stability of the principality. At the same time, he called the budget “very tough” and “it fully reflects the economic situation of Andorra”.
According to Jordi Cinca, the increase of budget revenues became possible due to new taxes – income tax, IRPF (income tax) and IRNR (on non-resident income tax), as well as Andorra Telecom profits.
See also Andorra business guide
