The balance of the central government budget was a deficit of MKD 11.2bn (EUR 182mn) in Jan-Apr 2013, according to data of the ministry of finance. The four-month gap is equal to 2.3% of projected 2013 GDP. The Jan-Apr deficit already accounts for over 63% of the full-year deficit target of MKD 17.7bn. It is also 2.5 times larger than the MKD 4.4bn gap registered in Jan-Apr 2012. In the first four months of 2013, total budget revenues decreased by 5.4% y/y in real terms to MKD 44.6bn, while total expenditures rose by a real 8.4% y/y to MKD 55.8bn.
In April alone, the budget balance was a small surplus of MKD 172mn, up from a surplus of MKD 111mn in April 2012. Total budget revenues grew by a real 3.6% y/y to MKD 14.7bn and total expenditures rose by 3.2% y/y to MKD 14.5bn. Tax revenues expanded by 2.3% y/y to MKD 7.1bn in April. Within taxes, positive real annual growth was reported for personal income tax (up 15.4% to MKD 959mn), VAT (up 1.5% to MKD 3.4bn), import duties (up 16.5% to MKD 424mn) and other taxes (up 22.2% to MKD 340mn). Negative annual growth in real terms was reported by revenues from profit tax (down 8.1% to MKD 755mn) and excise tax (down 5.9% to MKD 1.2bn).
| Central government budget, MKD mn | |||||
| Budget 2013 | Apr-13 | % y/y real | Jan-Apr/13 | % y/y real | |
| TOTAL REVENUES, incl.: | 147,958 | 14,657 | 3.6% | 44,601 | -5.4% |
| Taxes | 81,685 | 7,092 | 2.3% | 23,599 | -8.7% |
| Contributions | 42,842 | 3,914 | 9.8% | 13,634 | 2.2% |
| TOTAL EXPENDITURES | 165,653 | 14,485 | 3.2% | 55,833 | 8.4% |
| Current Expenditures | 146,941 | 12,656 | 1.6% | 49,959 | 9.7% |
| Capital Expenditures | 18,712 | 1,829 | 15.9% | 5,874 | -1.2% |
| BUDGET BALANCE | -17,695 | 172 | 51.7% | -11,232 | 151.0% |
| Source: Ministry of finance |
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