September 27 (SeeNews) - North Macedonia's budget was in deficit of 11.1 billion denars ($174.1 million/180.4 million euro) in the eight months through August, compared with a 24.2 billion denars gap in the same period last year, finance ministry data showed.
Consolidated revenues in the January-August period totalled 157 billion denars, higher than 138.4 billion denars in the like period of 2021, the finance ministry said in a data release on Monday.
Tax revenues rose to 1.4 billion denars in the period under review, from 824 million denars in the like period of 2021.
Total expenditures rose to 168.1 billion denars, compared with 162.6 billion denars in the first eight months of 2021.
In August alone, the budget gap shrank to 957 million denars, from 5.4 billion denars in the same month last year.
At the end of 2021, North Macedonia's budget was in deficit of 38.8 billion denars, compared with a 53.9 billion denars gap a year earlier.
North Macedonia's government has projected a deficit of 42.7 billion denars in the 2022 budget, equivalent to 5.3% of the estimated gross domestic product.
(1 euro = 61.70 denars)