photo: govern
The Finance Minister of Andorra (Pyrenees), Jordi Cinca, announced at a press conference the great figures for the 2019 budget, which foresees revenues of 444,771,051.15 euros and costs of 457,908,499 euros. The bill of the 2019 budget approved by the Council of Ministers, entered into parliamentary proceedings this Wednesday. Cinca said that this is the budget that predicts a lower deficit of the entire democratic mandate, standing at 13.13 million euros.
The head of Finance has emphasized that the bill is adapted to all the precepts marked by the law of sustainability of public finances and budgetary stability and has been able to maintain the cash deficit below 0.5% of the GDP.
With regard to revenue, the budget forecasts an increase of 4.64% compared to the 2018 budget, placing them at 444,771.51.15 euros. With regard to current expenses, the budget for the next fiscal year is 386,564,368.72 euros, which represents an increase of 2.59% compared to the previous year. Current expenses include capital expenditures which stand at 57,981,365.83 euros, 4.46% less than in the previous budget.
The management surplus foreseen for 2019 is 235,316.60 euros. Once the financial expenses are added, the planned cash deficit is 13,137,448.68, reducing this figure by almost 49% compared to 2018.
The draft budget law for next year is the first that has been signed electronically.
See also Andorra business guide
