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Parliament approved the fourth supplementary budget for 2020

Published 6/26/2020 5:00 PM
Modified 6/30/2020 2:47 PM

Parliament approved the fourth supplementary budget for 2020

The Parliament approved the fourth supplementary budget for 2020 on 26 June. With the supplementary budget the Government facilitates economically, ecologically and socially sustainable growth during the recovery from the coronavirus epidemic.

The new supplementary budget will see a reduction of approximately EUR 1.3 billion in revenue and an increase of EUR 4.1 billion in spending, leading to an increase of EUR 5.3 billion in net borrowing. By the end of the year, the debt-to-GDP ratio is estimated to stand at 55 per cent. The total sum of the 2020 budget and the four supplementary budgets in 2020 will be EUR 67.3 billion.

The fourth supplementary budget was approved as proposed by the Finance Committee in its report. It will enter into force on 1 July 2020.​

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