January 16 (SeeNews) - Albania posted a budget surplus of 7.1 billion leks ($55 million/51.7 million euro) in the first eleven months of 2016, compared to a deficit of 24.4 billion leks a year earlier, according to provisional data released by the finance ministry.
The turnaround to surplus was driven mainly by increased tax revenues, figures published on the ministry's website show. In 2016, Albania did not have to pay debt arrears, unlike in 2015, and this also contributed to the improvement.
Total budget revenue rose 7.3% year-on-year to 368.3 billion leks in the first eleven months of 2016, while total expenditure shrank 1.8% to 361.2 billion leks.
Albania posted a budget surplus of 13.7 billion leks in the first ten months of 2016, versus a deficit of 18.9 billion leks in the corresponding period of last year.
Details follow (in billions of leks):
|
11-mo'16 |
Full-yr plan |
11-mo'15 |
Deficit/Surplus |
7.1 |
-35.7 |
-24.4 |
Total revenue |
368.3 |
414.5 |
343.4 |
- tax revenue |
337.0 |
375.8 |
311.2 |
- non-tax revenue |
20.7 |
25.7 |
23.9 |
- grants |
10.6 |
13 |
8.3 |
Total expenditure |
361.2 |
450.2 |
367.9 |
- current expenditure |
316.4 |
384.4 |
307.4 |
- capital expenditure |
44.8 |
58.7 |
43.6 |
- arrears |
- |
- |
16.9 |
Source: Albanian finance ministry
(1 euro=136.612 leks)