Europe > Northern Europe > Denmark > Denmark unveils draft budget for 2016

Denmark: Denmark unveils draft budget for 2016

2015/09/30

The Danish government presented a draft budget for 2016 on Tuesday, promising additional spending on health care and economic increase.

Denmark's budget expenditures are projected at 1,086 billion Danish kroner in 2016, while incomes will total 1,029.4 billion kroner, and the budget deficit is expected to reach 2.8 % of the gross domestic product next year.

According to the draft, from presently on to be approved by the Danish parliament, the government will set aside a further 2.4 billion kroner for health care in 2016 with a focus on chronic patients, cancer and dementia treatments.

It will as well launch a number of initiatives to promote increase in areas outside the major cities, "so that the increase and prosperity is not just a city phenomenon but is something going on throughout the country," said Danish Finance Minister Claus Hjort Frederiksen at the same time as announcing the draft budget.

However, it will make cuts in such areas as green initiatives, childcare and development aid.

"We need to get fiscal policy back on track. It has been necessary to make some tough decisions. But it is necessary if you want to prioritize health and increase while ensuring sound public finances," Frederiksen said, adding that "we must ensure the taxpayer's money is being most appropriately used."

The Danish government maintained its GDP increase forecasts for 2015 and 2016 to be at 1.5 % and 1.9 % respectively. (1 U.S. dollar = 6.66 Danish kroner)

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