November 25 (SeeNews) - North Macedonia posted a budget gap of 34.8 billion denars ($671.6 million/564.7 million euro) in the ten months through October, compared with a 5.4 billion denars deficit in the same period last year, finance ministry data showed on Wednesday.
Consolidated budget revenues totalled 154.6 billion denars in January-October 2020, compared with 166.8 billion denars in the like period of 2019, as tax revenues fell to 880 million denars from 1.4 billion denars, figures showed.
Total expenditures rose to 189.4 billion denars in the review period, compared with 172.1 billion denars in the first ten months of 2019.
In October alone, the budget was in surplus of 1 billion denars, compared with a 2.8 billion denars surplus in the same month last year.
In October, North Macedonia revised its 2020 budget for a second time this year to address the impact of the coronavirus crisis on the economy. The government is now targeting a deficit equivalent to 8.4% of the estimated gross domestic product (GDP), compared with a deficit of 2.3% it had projected in the original version of the budget and a deficit of 6.8% in its first revision of the budget made in May.
(1 euro = 61.62 denars)