The 2025 budget has been approved by the Council of Ministers and includes a multi-year budget for 2025-2027. The budget aims to reduce the tax burden on lower and middle-income earners and address global uncertainties.

Allocation of Funds

The budget allocates funds for various purposes:

• Public administration contracts
• Healthcare funding
• Support for families

Tax Reforms

The budget introduces several tax reforms:

• Revised tax wedge
• Modifications to social security withholdings
• Changes to payroll tax deductions for employees

Labor Market Initiatives

The budget includes initiatives to address labor market challenges:

• Incentives for hiring young and female workers
• Support for self-employment
• Funding for the renewal of civil service contracts

Family Support

The budget introduces measures to support families:

• Extended parental leave with increased compensation

Pension Reforms

The budget includes reforms related to pensions:

• Revaluing pensions
• Incentivizing delayed retirement

Corporate Welfare

The budget includes measures to support corporations:

• Tax benefits for productivity bonuses
• Hiring incentives

Regional Investments

The budget provides tax credits for investments in specific regions.

Support for Small and Medium-sized Enterprises

The budget continues to provide support for small and medium-sized enterprises.

Overall, the budget aims to enhance social welfare and stimulate economic growth.