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Albania turns to budget deficit in H1

Albania turns to budget deficit in H1 wrangler/Shutterstock.com

TIRANA (Albania), July 17 (SeeNews) – Albania's budget showed a deficit of 3.3 billion leks ($30.0 million/26.7 million euro) in the first half of 2019, compared to a surplus of 2.3 billion leks in the year-ago period, official figures show.

Consolidated budget revenue rose 3.9% year-on-year to 225.5 billion leks, while expenditures increased 6.6% to 228.7 billion leks in the January-June period, according to data published on the website of the finance ministry.

Tax revenue increased by 4.9% to 212.2 billion leks, while value-added tax (VAT) proceeds decreased 3.0% to 65.9 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 = 121.391 leks)

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