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The Municipality of Tirana foresees at least 33.4 billion lek or around 320 million euros in expenses to fulfill its functions and objectives in the coming year. The budget plan of the largest municipality in the country indicates that the dominant portion of the funds is allocated for capital investments.
"For the year 2024, the total fund for capital expenditures is in the amount of 14,074,448,563 lek, constituting 42% of the total expenditures. For the years 2025 and 2026, the investment budget is projected to be 9,993,525,168 lek and 7,228,120,936 lek, respectively. In 2024, the majority of capital expenditures are allocated to the Community Development, Transport, and Urbanism programs," states the report, Monitor reports.
The largest portion of this allocation is taken up by transportation expenses, accounting for 27% or 3.98 billion lek, followed by community development and social housing.
As for other expenses, the document highlights that operational and miscellaneous expenses are projected to be 19,365,091,074 lek for the year 2024.
These expenses constitute 31% of the total budget for the year 2024 and include:
► Operational expenses of the Municipality's apparatus and dependent institutions;
► Use of the Reserve Fund and Contingency Fund;
► Other transfers for individuals. The Reserve Fund will be used to finance expenses that cannot be anticipated during budget preparation, with decisions made by the Municipal Council.
"The Contingency Fund will be used to cope with the effects of revenue shortfalls, the need for new financing, and the addition of funds beyond those approved for existing programs, if necessary, always with the approval of the Municipal Council. Transfers for individuals consist of transfers in social support for needy layers, such as housing bonuses, compensation for natural disasters, excellence incentives, such as those for outstanding students, and other incentives such as baby baskets, which will continue to be paid in 2024," states the report.