Denmark presents draft budget for 2018 with $114.44 billion in expenditures
Denmark's budget expenditures are projected to be 716.8 billion Danish kroner ($114.44 billion) in 2018, while incomes will total 694.8 billion kroner, which will result in a deficit of 22 billion kroner next year.
In percentage terms, the deficit in 2018 will be equal to 1.0 percent of the gross domestic product (GDP).
According to the draft, the government will allocate a reserve of 500 million kroner annually over the next four years for core welfare with a particular focus on strengthening the health and elderly area.
As such, the core welfare areas will receive a significant boost of 2.6 billion kroner next year, including the 1.3 billion kroner which is agreed in the framework for next year's economy for the municipalities and regions, and the 800 million kroner for the socially vulnerable.
Meanwhile, the government will put 60 million kroner aside annually from 2018 onwards for new initiatives to fight gangs, and 65 million kroner per year for tougher penalties. ■