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Albania swings to budget surplus in Jan-May

Albania swings to budget surplus in Jan-May wrangler/Shutterstock.com

TIRANA (Albania), June 19 (SeeNews) – Albania's budget reported a surplus of 866 million leks ($7.9 million/7.0 million euro) in the first five months of 2019, compared to a deficit of 735 million leks in the year-ago period, official figures show.

Consolidated budget revenue rose 4.6% year-on-year to 188.3 billion leks, while expenditures increased 3.7% to 187.4 billion leks in the January-May period, according to data published on the website of the finance ministry.

Tax revenue increased by 5.2% to 176.9 billion leks, while value-added tax (VAT) proceeds decreased 2.8% to 55 billion leks.

The Albanian government projects economic growth of 4.3% and budget deficit equivalent to 1.9% of GDP in the 2019 state budget.

(1 euro = 120.682 leks)

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