UN envoy unveils Kosovo budget for next year

The senior United Nations envoy to Kosovo today released details of the province's budget for 2004, revealing there will be a small deficit but revenue will be higher than expected as the UN mission there tries to rebuild the area torn by fighting in the late 1990s.

In Pristina, the capital, Harri Holkeri promulgated a regulation approving Kosovo's budget for next year.

The budget forecasts revenue of €619 million (euros) and spending of €632 million, with the deficit of €13 million to be financed from this year's surplus. A fifth of the proposed spending will be on capital expenditure, such as roads and buildings.

The revenue forecast is €35 million higher than the one at this year's mid-year budget review. Value-added tax on imported and domestic products provides almost 40 per cent of this year's revenue, followed by excise tax revenues, customs duties, income taxes and other sources.