September 25 (SeeNews) - North Macedonia posted a budget gap of 34.9 billion denars ($660 million/567 million euro) in the eight months through August, compared with a 9 billion denars deficit in the same period last year, finance ministry data showed on Friday.
Consolidated budget revenues for January-August 2020 totalled 119.5 billion denars, compared with 115.7 billion denars in the like period of 2019, as tax revenues fell to 738 million denars from 1 billion denars, figures showed.
Total expenditures rose to 154.5 billion denars in the review period, compared with 139.4 billion denars in the first eight months of 2019.
In August alone, the budget gap widened to 2.8 billion denars, compared with 355 million denars deficit in the same month last year.
In May, North Macedonia revised its 2020 budget to address the impact of the coronavirus crisis on the economy. The government is now targeting a deficit equivalent to 6.8% of gross domestic product (GDP), compared with a deficit equivalent of 2.3% of GDP it had projected in the original version of 2020 budget.
(1 euro = 61.58 denars)