Korčula City Council approves plan to cover budget deficit

The City Council of Korčula has passed a decision regarding the successive coverage of a budget deficit from previous years. Based on the 2025 annual budget execution report and the 2026 budget amendments, a transferred deficit of 1,733,663.81 EUR has been identified.

The plan aims to cover this deficit over a three-year period from 2026 to 2028. The scheduled payments are 612,527.00 EUR in 2026, 560,553.41 EUR in 2027, and 560,553.40 EUR in 2028.

To ensure implementation, the council established several financial management and budgetary discipline measures. These include prioritizing legal and contractual obligations and employee payments, continuous monitoring of revenue realization, and increased efforts in debt collection and management of matured obligations.