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Sep 27, 2023 15:46 EEST
September 27 (SeeNews) - Croatia's general government budget surplus stood at 1.1 billion euro ($1.2 billion) in the first half of 2023, or 1.5% of the gross domestic product (GDP), the finance ministry said on Wednesday, referring to a national methodology.
The state budget surplus was 556 million euro or 0.8% of GDP, while the extra-budgetary beneficiaries generated a surplus of 306 million or 0.4% of GDP, state secretary Zdravko Zrinusic told a weekly cabinet meeting as seen in a video published on the government’s website.
The units of local and regional government administration and county road authorities reported an overall surplus of 236 million euro or 0.3% of GDP, he added.
State budget revenue reached 13.7 billion euro in the review period, up 30% on the year. Tax revenue increased 24% to 7.3 billion euro and revenue from pension insurance contributions rose 12.8% to 2.1 billion euro.
Budget expenditure rose 19.3% year-on-year to 13.1 billion euro, mostly due to costs related to rehabilitation from the 2020 earthquakes, state aid to protect households and businesses from soaring prices, and higher expenditures for pensions and salaries.
Revenue from issuance of government bonds on the domestic market stood at 1.9 billion euro, with 3.65% annual interest and maturity in 2025.
The revenue of extra-budgetary beneficiaries amounted at 3.8 billion euro, while expenditure stood at 3.5 billion euro.
In June, the Croatian parliament approved a revision of the state budget for 2023, cutting the projected consolidated general government budget deficit to 0.7% of the expected GDP, down from 2.3% set originally in the 2023 state budget plan.
In 2022, the consolidated general government surplus amounted to 0.4% of GDP, while in 2021, the deficit stood at 2.5% of GDP, according to data published in April by the country's statistical office.
($ = 0.949 euro)
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