Macedonias central government budget surplus shrinks 65.6% y/y in April 2012.

By bne IntelliNews May 27, 2012
Macedonias central government budget balance was a surplus of MKD 111mn (EUR 1.8mn) in April, compared to a deficit of MKD 1.2bn in March and a surplus of MKD 323mn in April 2011, according to data of the ministry of finance. Total budget revenues dropped by a real 7.9% y/y on lower tax revenues (down 4.6% y/y). Negative annual growth was reported for personal income tax (5.7%), profit tax (5%), VAT (8.8%) and other taxes (4%). Positive real annual growth was posted by excises (5.1%) and import duties (9.5%). Total expenditures decreased by 6.6% y/y to MKD 13.6bn. Current expenditures dropped by 1.5% y/y to MKD 12.1bn in April, and capital expenditures plummeted 33.6% y/y to MKD 1.5bn. The cumulative budget balance since the start of the year is a deficit of MKD 4.4bn, up from MKD 3.4bn a year earlier. The 2012 full-year deficit target is MKD 12.4bn or about 2.5% of this years GDP projection. There will be a minor change of the targets amount as a result of the ongoing budget revision. In Jan-Apr, total budget revenues dropped by a real 3.5% on the year to MKD 45.5bn, and total expenditures decreased by a real 1.4% to MKD 49.9bn.

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