2nd September 2020, Skopje – Budget revenues in August amounted to Denar 14.2 billion, being lower by 13.9% in relation to last year. On cumulative basis, since the beginning of the year, revenues amounted to Denar 119.6 billion, being lower by 8.2% compared to 2019, which is a slight improvement compared to the first half of 2020, when revenues were lower by 9% on cumulative basis compared to last year.
In August, tax revenues showed lower performance by 17.1% in relation to last year, while contributions performance dropped by 2.7%. With respect to tax revenue collection, VAT revenues underperformed by 14.3%, excise revenues dropped by 25%, profit tax revenues declined by 28.9% and PIT revenues decreased by 10.4%, while import duties collection surged by 7.9%.
Expenditures in August amounted to Denar 17 billion, being higher by 5.8% compared to last year.
On cumulative basis, budget revenues dropped by 8.2% as of August inclusive, due to the 12.1% decline of tax revenues. Since the beginning of the year, contributions collection experienced 7.1% increase on cumulative basis. From the beginning of the year as of August inclusive, lower performance was registered at almost all taxes, except import duties, which experienced 7% increase. Cumulative decline of 13.6% was registered at VAT.
As of August inclusive, total expenditures amounted to Denar 154.4 billion, being by 11% higher compared to 2019, whereby current expenditures and capital expenditures increased by 11.2% and 5.9% respectively. As of August inclusive, the deficit amounted to Denar 34.9 billion, accounting for 75.7% of the projected one under the Supplementary Budget.
In the spirit of transparent reporting on the Central Government budget execution, the Ministry of Finance continues to publish, in advance, at the beginning of the month or 25 days before the Advance Release Calendar, the data on Budget execution on monthly basis.