/View.info/ The Cabinet will consider the medium-term budget forecast for the period 2016-2018.
The document envisages a smooth acceleration of economic growth, with the main contribution of private consumption and investment, and <a href="http://www.world-today-news.com/the-covid-crisis-triggers-the-public-deficit-from-2-8-to-10-97-of-gdp-economy/" title="The Covid crisis triggers the public deficit from 2.8% to 10.97% of GDP | Economy”>deficit targets of 2.5% of GDP in 2016. up to 1.5% of GDP in 2018. Low corporate and personal income tax rates are envisaged to be maintained as an important incentive for investment, economic growth and employment.
The main priority of fiscal policy remains the preservation of the stability of public finances by setting realistic fiscal goals, taking into account the measures to increase the efficiency of public spending and the implementation of gradual fiscal consolidation.
The agenda of the meeting of the Council of Ministers also includes a change in the Methodology for determining financial corrections in connection with violations established during the awarding and execution of public procurement and contracts for projects co-financed with European funds. The amendments eliminate redundant administrative procedures. The goal is to shorten the time for verification of payment requests and, accordingly, to speed up the recovery of funds to the beneficiaries and completion of the projects on time.
Ministers will discuss at the government meeting a new model for state assistance to disaster victims. It will become part of the Disaster Protection Law after it is approved by the National Assembly.
With the proposed changes in the law, a support mechanism is introduced for those persons who, with their own financial means, cannot take care of insuring their property for the consequences of disasters. According to him, after the occurrence of an adverse event related to a disaster, the state, through its authorities, will assess the degree of disability or damage to the person’s property, and the Social Assistance Agency – who should be assisted, since they could not insure the property themselves against the corresponding risk because of their social and economic status. Thus, the funds from the central budget will reach the people who need disaster relief. The assistance provided will be up to the amount of the tax assessment of the relevant property.
The proposed new model for assisting disaster victims does not change the principle that personal property insurance should be voluntary, but a positive indirect effect of the proposed changes is to stimulate the conclusion of insurance and improve the insurance culture of citizens
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