PRISTINA (Kosovo), August 2 (SeeNews) – Kosovo recorded a budget deficit of 38.32 million euro ($44.7 million) in the first quarter of 2018, compared to a surplus of 5.47 million euro in the same period of 2017, the country’s finance ministry said.
Consolidated budget revenue rose 4% to 368.31 million euro in the January-March period, while spending increased 17% to 406.62 billion euro, the ministry said in a quarterly report.
Tax revenue grew 6% on the year to 310.94 million euro in the first three months of 2018, with revenue from Value Added Tax up 8% to 158.95 million euro.
Kosovo's 2018 state budget, built on projections for 4.6% economic growth, envisages a budget deficit equivalent to 1.5% of the planned gross domestic product (GDP).
($ = 0.85636 euro)