The balance of the central government budget showed a deficit of MKD 17.1bn (EUR 278mn) in Jan-Oct 2013, equal to 3.5% of the projected 2013 GDP and 88.9% of the new full-year deficit target of MKD 19.3bn, according to data of the ministry of finance. In Jan-Oct 2012 the gap stood at MKD 13.2bn.
Total budget revenues dropped 1.8% y/y in real terms to MKD 114.9bn in the first 10 months of this year, while total expenditures rose 1.2% y/y to MKD 132bn.
In October alone, the budget balance was a deficit of MKD 1.3bn, up from a deficit of MKD 1.2bn in October 2012. Total budget revenues increased by a real 6.6% y/y to MKD 11.8bn in October, and total expenditures grew by 7.1% to MKD 13.2bn. Taxes rose by 10.8% y/y to MKD 6.6bn. Positive annual real growth was reported for VAT (up 18.6% to MKD 3.5bn), excises (up 18.8% to MKD 1.7bn) and personal income tax (up 17.8% to MKD 828mn). In real terms, negative y/y growth was reported for other taxes (down 61% to MKD 119mn), profit tax (down 36.7% to MKD 181mn) and import duties (down 0.5% to MKD 383mn).
|Central government budget, MKD mn|
|Budget 2013||Oct-13||% y/y real||Jan-Oct/13||% y/y real|
|TOTAL REVENUES, incl.:||149,291||11,837||6.6%||114,872||-1.8%|
|Source: Ministry of finance|
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