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In 2022, total revenue collection accounted for significant 99% of the projections, with expenditures being somewhat lower than the expectations. Budget deficit was lower by EUR 117.6 million compared to projections, or when compared to 2021, i.e. by 8.7%, with the fiscal consolidation staying on track. Capital expenditure execution accounted for 88%, or by EUR 85 million higher compared to 2021, whereby during last year, record-high VAT refund was registered, being higher by EUR 208 million compared to the previous year.

“Revenues were collected as per the projections, with even significant overperformance recorded some of the taxes, such as PIT and profit tax, accounting for 105.4% and 117.8% of the collection, respectively. In 2022, total revenue collection amounted to Denar 243.1 billion, being very close to the projections, accounting for 98.92%. Total revenue collection was higher by 11.5% compared to 2021″, Minister of Finance Besimi pointed out, thereby stressing that this was largely due to the tax revenues and contributions, which collection accounted for significant 99.3%, or Denar 220.2 billion last year, i.e. by 12.2% higher compared to 2021.

Tax collection accounted for 99.7% or Denar 140.5 billion. VAT collection accounted for 94.6%, being approximate to the excise duty collection, accounting for 94.7%. In 2022, tax collection was higher by 13.1% compared to the previous year, with the profit tax experiencing major outperformance by 45.1%, whereby PIT collection picked up by 16.1%, while VAT revenue collection was higher by 11.3% compared to 2021. In 2022, VAT refund was higher by 42.7% compared to previous year, while being higher by 70% compared to 2019 and 2020.

Contribution collection amounted to Denar 77.62 billion or 98.8% of the projections, being largely a result of the pension and disability insurance contributions, the collection of which amounted to Denar 50.6 billion. Contribution collection was higher by 9.9% compared to 2021.

Non-tax revenues experienced underperformance, accounting for 101.3% or Denar 17.27 billion.

“Last tear, we serviced all liabilities in a timely manner and on regular basis, with funds for anti-crisis measures being additionally allocated as support to the citizens and the business sector. Total expenditure execution was somewhat lower than the projections, amounting to Denar 278.59 billion or 96.57% of the projections, with the budget deficit being lower than the projections. Current expenditure execution accounted for 97.67%. Execution of expenditures related to wages and salaries and allowances accounted for 98%, while those related to goods and services accounted for 87.9%, with the adopted saving measures reflecting thereon. Transfer execution accounted for 98.8%”, Minister Besimi said.

At the end of 2022, capital expenditure execution accounted for 87.9% or Denar 28.64 billion, being higher by 22.3% compared to 2021.

“Deficit accounted for 83% of the projections, i.e. around Denar 35.500 billion, being lower by Denar 7.23 billion compared to the 2022 projections. Deficit was lower by Denar 3.4 billion or by 8.7% less compared to last year. All this is in line with our commitment, as a Government, to gradually reduce, every year, the budget deficit in support of fiscal sustainability”, Minister Besimi pointed out.

 

Also available in: Macedonian Albanian

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