Government approved the 2019-21 public finance budget
The government approved the 2019-21 public finance budget. The public finance deficit should drop to 0.1% of GDP in 2019, and zero in 2020. Public debt should fall too, to 47.3% of GDP in 2019. The improvement comes on the back of the strong labor market, which is increasing tax and payroll levy revenues. The budget is counting on a new levy on retailers, 8% tax on non-life insurance, 10% VAT on accommodation services, and the doubling of the tax bonus for children.