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Kosovo: Draft Budget 2006 approved


Prishtinë, Nov 22, 2005 - The Economic Fiscal Council of Kosovo (EFC) approved on Friday the draft budget 2006, which will be 656 million Euros. Compared to the 2005 Budget, this year’s budget is 14 million euros higher, while public expenditures are lower, Kosovar media reported. The draft budget will be sent for approval to the Kosovo Assembly, and afterwards to the Special Representative of the Secretary General (SRSG). The Prime minister of Kosovo, Bajram Kosumi, who chaired the EFC meeting, said that the process of approving the budget 2006 differs essentially from the previous year.

“The Project budget 2006 was more complete and systematic, a process that commenced at the right time and will be completed in the right time,” said Kosumi.

”We will proceed the draft budget to the Kosovo Assembly and I believe that it will be discussed and approved so that by the end of the year the draft is also signed by the SRSG.”

Kosumi added that the draft budget 2006 is better organized and so far the most accurate and transparent one.

Meanwhile, Deputy SRSG Larry Rossin, said that the draft budget for 2006 is done in a constructive manner and that he expects it to be ready before the end of the year. “I expect that the Kosovo Assembly will review the draft budget as soon as possible,” said Rossin. He also said that the draft budget 2006 is in full compliance with IMF recommendations.

Minister of Economy and Finance of Kosovo, Haki Shatri, said that the draft budget for the next year is based on the Law on Public Finance Management. “We could not meet all the request of budgetary organizations, because Kosovo has a limited budget,” said Shatri.

Shatri added that the draft budget 2006 considered allocation of funds for the ministries and status talks. The Budget 2006 is expected to increase from the PTK, taxes on mines and minerals and other taxes, which will be applied by the Kosovo Tax Administration.

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Background information for foreign investors

Kosovo: General Information
Kosovo: Key economic indicators
Why do business in Kosovo?
Legal Framework in Kosovo
KTA and Privatisation in Kosovo



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