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NewsBudget revenues in the first three months were EUR 545.7 million, a...

Budget revenues in the first three months were EUR 545.7 million, a surplus of almost EUR 66 million

Budget revenues in the first three months of this year amounted to EUR 545.7 million or 8.8% of the estimated GDP and are higher by EUR 63 million or 13% compared to the planned ones, according to data from the Ministry of Finance. Compared to the comparative period in 2022, revenues increased by 129 million, i.e. 31%.

The biggest growth was recorded in other incomes, income based on value added tax, contributions for mandatory social security and donations and transfers.

VAT revenues by the end of March were collected in the amount of EUR 221.8 million, which is EUR 26.8 million or 13.8% more than the planned amount of EUR 50.4 million or 29.4% more compared to the same period of the previous year.

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Other revenues in the observed period amounted to EUR 39.9 million and are at the level of the budget revenue plan for the current year. Compared to the previous year, they were achieved in the amount of EUR 35.2 million more, as a result of the transfer of funds collected from the implementation of the “Economic Citizenship” project.

The continuous growth of contributions for mandatory social insurance continued in March and they were achieved at the level of EUR 99.8 million, which is by EUR 15.5 million or 18.4% compared to the planned, i.e. EUR 16 million or 19.1 % compared to the comparative period in 2022. The better collection of the contribution category is the result of the effects of the implementation of the Law on the reprogramme of tax claims, but also the increased basis for the calculation of contributions due to the increase in coefficients for the wages of employees in the public sector – it was clarified.

The Ministry of Finance also states that in the mentioned period, significant growth was also achieved in the category of donations and transfers, which were realized in the amount of EUR 34.7 million, which is higher than the plan by EUR 21.7 million and EUR 27.7 million in compared to the comparative period in 2022.

The growth of this category is primarily the result of the payment of funds by the EU, based on direct budget support for energy efficiency – they announced.

Revenues from excise taxes also recorded growth, due to the termination of the implementation of the decision to reduce the amount of excise duty for the sale of unleaded gasoline and gas oils. In the period from January to March of this year, realized revenues from excise duties amounted to EUR 58.3 million and were higher than planned by EUR 2.9 million or 5.2%, or EUR 1.6 million. or 2.9% compared to the same period in 2022.

On the other hand, revenues from corporate income tax were collected in the amount of EUR 42.7 million and are lower than planned by EUR 13 million or 23.3%. The law on corporate income tax stipulates that income tax is paid by March 31, and bearing in mind that the last day of the month is recorded as income for the following month through the public sector accounting system, the recorded increase in income on this basis was recorded in in the month of April – it is stated in the announcement of the Ministry of Finance.

Budget revenues in March amounted to EUR 233.5 million, which is EUR 31.7 million or 15.7% more compared to the plan and EUR 49.3 million or 26.8% compared to the same month last year.
Budget expenditures for the first three months of 2023 amounted to EUR 479.9 million or 7.8% of the estimated GDP and compared to the planned they are lower by EUR 94.6 million or 16.5%, while compared to the same period last increased by 35 million or 7.9%.

In the structure of total spending, current expenditures amounted to EUR 208.2 million, which is EUR 25.7 million or 11% less compared to the plan, while compared to the same period last year they are EUR 36.2 million higher, i.e. 21%. The capital budget was realized in the total amount of 13 million, which is at the level of 27.7% of the realization of the plan – it was stated.

Expenditures in March amounted to 193.6 million EUR and are lower than the plan by 10.5 million or 5.1%, while compared to March 2022 they are higher by 41.5 million EUR or 27.3%. In March, capital projects were realized in the amount of EUR 9.9 million, that is, 63% of the plan, and the intensification of capital budget execution is expected in the following period – the announcement states.

Taking into account the realization of income and expenditure, in the observed period a budget surplus was realized in the amount of EUR 65.8 million, that is, at the level of 1.1% of the estimated GDP.
The budget surplus in March was EUR 39.9 million.

 

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