Parliament approved the 2020-22 public finance budget
Parliament approved the 2020-22 public finance budget on Tuesday. Seventy eight MPs backed the budget, all MPs of ruling parties plus some independents. The budget plans a 0.5% of GDP deficit for 2020 and zero deficit for 2021-22. The European Commission, central bank NBS, and fiscal responsibility council RRZ all expect much higher deficits. The coalition parties stress that the budget increases public sector wages and minimum pensions as well as parental benefits and substitute alimony. The opposition parties point at fiscal irresponsibility and high deficits being covered by the doubled banking levy.
