Macedonias budget deficit at EUR 23.2mn in January 2012.

By bne IntelliNews February 28, 2012
Macedonias central government budget balance was a deficit of MKD 1.4bn (EUR 23.2mn) in January, which compares with deficits of MKD 946mn in December and MKD 667mn in January 2011, according to data of the ministry of finance. The full-year deficit target for this year is MKD 12.4bn or 2.5% of projected 2012 GDP. In January, total budget revenues dropped by a real 3.3% y/y to MKD 10.4bn, while total expenditures increased by a real 3.6% y/y to MKD 11.8bn. Tax revenues decreased by a real 3.5% on the year to MKD 6.2bn. The performance across the various types of taxes was mixed in January. Positive annual real growth was reported for personal income tax (10.1% to MKD 664mn), profit tax (15.8% to MKD 174mn) and import duties (14% to MKD 263mn). Negative annual real growth was reported for VAT (down 8.1% to MKD 3.5bn), excises (down 2.3% to MKD 1.4bn) and other taxes (down 1.4% to MKD 311mn). On the expenditure side, capital expenditures soared by a real 43.5% y/y to MKD 1.7bn in January.

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