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Albania's budget swings to deficit in Jan-Aug

Albania's budget swings to deficit in Jan-Aug wrangler/Shutterstock.com

TIRANA (Albania), September 17 (SeeNews) – Albania's budget was in deficit of 3.5 billion leks ($31.7 million/28.7 million euro) in the first eight months of 2019, compared to a surplus of 4.1 billion leks in the year-ago period, official figures show.

Consolidated budget revenue rose 4.1% year-on-year to 305.9 billion leks, while expenditures increased 6.8% to 309.4 billion leks in the January-August period, according to data published on the website of the finance ministry.

Tax revenue increased by 4.6% to 288.5 billion leks, while value-added tax (VAT) proceeds decreased 3.0% to 90.5 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 = 120.198 leks)

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