The 2015 draft supplementary budget will be debated by the parliamentary committees and commissions until 17 February, when the Finance and Monetary Policy Committee has the final say on the document before it is sent to the National Assembly.

The MPs are expected to discuss and vote on the revised budget for this year at an extraordinary session of parliament on 19 and 20 February.

Before the vote, the National Assembly has to pass legislative changes related to the financing of municipalities in line with the recent agreement between representatives of local communities and the government.

The deal on a cut in local government funding coupled with lower administrative costs for municipalities will be implemented through a special law.

Revision of the original 2015 budget, passed in the National Assembly last November, was necessary in order to adjust it to the changed economic growth forecasts and to correct certain revenue projections.

Revenue is projected at EUR 8.56bn, EUR 64m less than in the currently valid budget documents, while expenditure was revised upwards by over EUR 467m, to EUR 9.95bn. This sets the expected deficit at EUR 1.39bn or 2.89% of GDP.