May 20 (SeeNews) - Albania's budget was in deficit of 15.6 billion leks ($138 million/126 million euro) in the four months through April, compared to a surplus of 3.02 billion leks in the comparable period last year, official figures show.
Consolidated budget revenue fell 11% year-on-year to 133.05 billion leks in the first four months of the year, while expenditures increased 1.6% to 148.7 billion leks, according to data published by the finance ministry.
Tax revenue decreased by 12% to 123.4 billion leks, as value-added tax proceeds fell 10% year-on-year to 39.2 billion leks.
In March, Albania’s government decided to cut its 2020 gross domestic product (GDP) growth forecast to 2.0% from 4.1% originally projected in the budget law due to the adverse impact of the coronavirus disease on the economy.
Budget deficit in 2020 is now projected at 68.7 billion leks equivalent to 3.9% of GDP, up from 29.3 billion leks, or 1.6% of GDP forecast in the budget adopted by the parliament in December.
(1 euro = 124.008 leks)