December 28 (SeeNews) - North Macedonia posted a budget gap of 40.1 billion denars ($795 million/650 million euro) in the eleven months through November, compared with a 7.5 billion denars deficit in the same period last year, finance ministry data showed.
Consolidated budget revenues totalled 170.1 billion denars in January-November 2020, compared with 183.2 billion denars in the like period of 2019, as tax revenues fell to 884 million denars from 1.5 billion denars, figures showed last week.
Total expenditures rose to 210.2 billion denars in the review period, compared with 190.7 billion denars in the like period of 2019.
In November alone, the budget was in deficit of 5.2 billion denars, compared with a 2.1 billion denars gap 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 = 61.73 denars)