Under the threat of missing revenues, investments have increased / Government was not spared, 454 million euros were spent in 10 months

Despite the fact that the state treasury resulted in a lack of revenue of nearly 292 million euros in the 10 months of 2020 due to the effects of the COVID-19 pandemic and despite the government’s efforts to accommodate this blow which continues, public investment has not stopped. On the contrary, although in such a year funding cuts or savings in this regard could be expected due to the high costs required by the amortization of the effects of the pandemic on citizens and businesses, capital expenditures seem to have reached a maximum level in 10 months, compared figures from 2010.

Referring to the official indicators of the Ministry of Finance in the period January-October 2020, capital expenditures reached the level of ALL 56.2 billion or EUR 454 million. If we compare it with the 10 months of previous years, the figure of money spent on public works is higher, except for the costs of increasing the budget deficit. While the most minimalist capital expenditures result in 2016 m 33.7 billion or 272 million euros.

Most of the investments are occupied by domestic financing, while the budget from year to year in this regard has increased. For 2021, despite the uncertainties of the pandemic situation, capital expenditures are projected to increase further to 7.2 percent of GDP, with a significant contribution to the reconstruction process.

SCAN

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