Croatian budget deficit reaches EUR 1.2bn in Jan-Aug.

By bne IntelliNews September 9, 2010
Croatia's budget deficit reached HRK 8.6bn (EUR 1.2bn) in Jan-Aug or 2.6% of the projected full-year GDP, the finance ministry reported. The total revenues amounted to HRK 70.8bn, down by 1.1% y/y. The total expenditures rose by 0.6% y/y to HRK 79.5bn. Revenues from VAT increased by 2.4% y/y to HRK 24.3bn in Jan-Aug. Revenues from excises also rose by 38.8% y/y to HRK 7.1bn, which was mainly due to INA's repaid debt to the state. The revenues from the profit tax went down by 33.1% y/y to HRK 4.5bn and those from contributions - by 4.5% y/y to HRK 25.2bn. The pension expenditures amounted to HRK 23.3bn, of which HRK 12.6bn were secured from contributions and the remainder - from the budget.

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