February 22 (SeeNews) - Albania recorded a budget deficit of 26.2 billion leks ($205.2 million/194.6 million euro) last year, lower than the planned shortfall of 35.7 billion leks, according to provisional data from the finance ministry.
Albania closed 2015 with a budget gap of 58.2 billion leks.
The lower deficit in 2016 was mostly due to increased tax revenue, figures published on the finance ministry's website on Tuesday showed.
In 2016, Albania did not have to pay debt arrears and this also contributed to the improvement.
Total budget revenue rose 6.8% last year, reaching 405 billion leks, while total expenditure shrank 1.4% to 431.2 billion leks.
Albania posted a budget surplus of 7.1 billion leks in the January-November period of 2016, versus a deficit of 24.4 billion leks in the corresponding period of 2015.
Details follow (in billions of leks):
|
2016 |
2016 plan |
2015 |
Deficit/Surplus |
-26.2 |
-35.7 |
-58.2 |
Total revenue |
405.0 |
414.5 |
379.2 |
- tax revenue |
369.9 |
375.8 |
342.3 |
- non-tax revenue |
22.4 |
25.7 |
25.7 |
- grants |
12.8 |
13 |
11.2 |
Total expenditure |
431.2 |
450.2 |
437.4 |
- current expenditure |
366.8 |
384.7 |
350.8 |
- capital expenditure |
57.0 |
58.7 |
63.1 |
- arrears |
- |
- |
17.6 |
Source: Albanian finance ministry
(1 euro =134.798 leks)