TIRANA (Albania), December 16 (SeeNews) – Albania's budget was in deficit of 72.7 billion leks ($706.5 million/581.3 million euro) in the eleven months through November, compared to a deficit of 11.1 billion leks in the same period of last year, official figures show.
Consolidated budget revenue fell by 9.1% year-on-year to 382.9 billion leks in January-November, while expenditures increased by 5.4% to 455.6 billion leks, according to data published by the finance ministry.
Tax revenue decreased by an annual 8.7% to 359.9 billion leks, as value-added tax proceeds fell by 5.7% to 117.6 billion leks.
The coronavirus crisis will result in a 6.1% contraction of Albania's economy in 2020, compared to a 4.1% growth originally projected in the budget law, according to the government.
Budget deficit in 2020 is projected at 133 billion leks equivalent to 8.4% of GDP.
(1 euro = 122.058 leks)