8th April 2024, Skopje – 2024 Budget is being executed as per the projections. In the first quarter of 2024, revenues in the amount of Denar 69.5 billion were collected, being higher by 4.8% compared to the relevant period in 2023, accounting for 22.4% of the 2024 Budget projections. Expenditures were executed in the amount of Denar 83.9 billion, accounting for 24.4% of the projections and being higher by 20.1% compared to last year, with the deficit amounting to Denar 14.5 billion in Q1 2024. In Q1 2024, compared to Q1 2023, Denar 1.650 billion was spent for the implementation of the 9th set of anti-crisis measures, wage and allowances payments were higher by 24.9%, social transfers surged by 16.9%, pension payments increased by 21.1%, payments related to active employment measures and health care picked up by 28% and 16.2% respectively, block and earmarked grants to municipalities were higher by 11.9%, whereas interest payments to domestic and foreign creditors increasing by 100%.

Total revenues at the beginning of Q2 2024 amounted to Denar 71 billion, being higher by 5.6% compared to the relevant period of 2023. On 2nd April total revenues amounted to Denar 72.1 billion, being by 6.4% higher compared to last year, on 3rd April they amounted to Denar 73.6 billion, amounting to Denar 73.4 billion on 4th April. On 1st April, expenditures were executed in the amount of Denar 93.9 billion, on 2nd April they amounted to Denar 94.6 billion, amounting to Denar 95.6 billion on 3rd April and Denar 97.6 billion on 4th April. The deficit amounted to Denar 22.9 billion on 1st April, Denar 22.5 billion on 2nd April, Denar 21.9 billion on 3rd April and Denar 24.2 billion on 4th April.

Data recorded by the Ministry of Finance via the Treasury indicate that,  in the beginning of the month, operations take place on the expenditure side, since payments pertaining to wages, pensions and other transfers, are made in the first days of the month, while inflows on the revenue side are being recorded during the second half of the month, i.e. collection of both excise and VAT revenues is recorded on the 15th and the 25th of each month, respectively. Therefore, higher deficit is recorded at the beginning of the month, stabilizing as a result of inflows on the revenue side.

In Q1, i.e. by 31st March inclusive, revenues collected on the basis of taxes and contributions amounted to Denar 63.7 billion, being by 12.4% higher compared to the relevant period in 2023. Tax revenues collected recorded an 11% increase in the  respective period compared to  the same period last year. Compared to Q1 2023, PIT revenues were collected in the amount of Denar 7.15 billion, being higher by 20.9%, followed by CIT revenues amounting to Denar 5.6 billion and being higher by 23%, VAT revenues amounting to Denar 17.1 billion and being higher by 3.8%, and import tax revenues amounting to Denar 2.9 billion and being higher by 17.6%.

Budget liquidity is on point and all liabilities are being regularly settled. Revenues are collected in accordance with the projections (25% of the revenues collected in each quarter). Financing of the deficit is secured and according to projections under the adopted 2024 Budget.

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