N. Macedonia's budget gap doubles y/y in Jan

Consolidated budget revenues totalled 21.5 billion denars in the first month of 2024, compared with 19.3 billion denars in January 2023, as tax revenues rose to 108 million denars from 95 million denars, figures showed.

Total expenditures rose to 24.3 billion denars in January, compared with 20.7 billion denars in the same month of the previous year.

At the end of 2023, North Macedonia's budget was in deficit of 41.4 billion denars, compared with a 35.5 billion denars gap at the end of 2022.

North Macedonia's government has projected a budget deficit of 33.5 billion denars in 2024, equivalent to 3.4% of the estimated gross domestic product (GDP).

(1 euro = 61.64 denars)