Danish budget deficit projected at 83 million kroner for 2025
Monday 30th September 2024 on 12:04 in
Faroe Islands
The anticipated budget deficit for the upcoming year is 83 million Danish kroner.
This was announced by Ruth Vang, the Minister of Finance, as she presented the draft budget for 2025 in the morning session.
Total revenues for 2025 are projected to be 7 billion and 436 million kroner, while expenditures are estimated at 7 billion and 519 million kroner, covering operational, capital, and loan-related expenses.
Operational expenditures are set at 6 billion and 906 million kroner, with capital and loan-related expenditures amounting to 613 million kroner. Notably, 100 million kroner of this budget will be allocated to the Suduroy Tunnel project.
Consequently, the budget deficit is expected to be 83 million kroner.
The budget proposal will be reviewed for the first time in parliament on Wednesday. Following that, it will be sent to the finance committee for further consideration.