Page 132 - SE Outlook Regions 2024

Anticipated factors contributing to the positive outlook include reinforced growth potential, improved institutional effectiveness, and the successful execution of investments and reforms under Croatia's Recovery and Resilience Plan (RRP), setting Croatia apart from its peers in fiscal and institutional strength.
6.5 Budget and debt - Kosovo
Kosovo government plans expenditures of over €3.3bn for 2024. The 2024 draft budget envisages expansion in key areas including security, healthcare, sports, infrastructure and education.
The budgetary projections indicate that revenues will total €3.028bn, resulting in a deficit of €286mn. PM Albin Kurti announced a strategic focus on defence and security in the 2024 budget, with an allocation of about €370mn. A substantial portion of the budget, amounting to €859mn, is earmarked for capital investments, while an allocation of €519mn is planned for goods and services.
Kurti pointed to a 31% surge in funding for justice reform initiatives. Additionally, he stressed the increased financial backing for culture, youth, and sports, with an emphasis on turning Kosovo into a formidable competitor in the realm of sports.
In November, the IMF concluded the first reviews of Kosovo's 24-month stand-by arrangement (SBA) and Resilience and Sustainability Facility (RSF), making available €24.8mn and €38.4mn of budget support under each facility.
The IMF projects public debt of 20.6% of GDP in 2024, up from 19.9% in 2023.
6.6 Budget and debt - North Macedonia
North Macedonia’s government plans a budget deficit of MKD33.5bn (€545mn) in 2024 or 3.4% of the GDP, down from 4.8% planned for 2023, according to the finance ministry data. The planned deficit aligns with the commitment to fiscal consolidation, maintaining budgetary discipline, and ensuring fiscal space for vital economic and social initiatives.
132 SE Outlook 2024 www.intellinews.com