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Sep 25, 2023 15:16 EEST
September 25 (SeeNews) - North Macedonia's budget was in deficit of 27.1 billion denars ($468.7 million/440.7 million euro) in the eight months through August, compared with a 11.1 billion denars gap in the same period last year, finance ministry data showed on Monday.
Consolidated revenues in the January-August period totalled 175.7 billion denars, higher than 157 billion denars in the like period of 2022, the finance ministry said in a data release.
Tax revenues fell to 1.2 billion denars in the period under review, from 1.4 billion denars in the like period of 2022.
Total expenditures rose to 202.8 billion denars, compared with 168.1 billion denars in the first eight months of 2022.
In August alone, the budget gap shrank to 28 million denars, from 957 million denars in the same month last year.
At the end of 2022, North Macedonia's budget was in deficit of 35.5 billion denars, compared with a 38.8 billion denars gap at the end of 2021.
North Macedonia's government has projected a budget deficit of 42.7 billion denars in 2023, equivalent to 4.6% of the estimated gross domestic product (GDP).
(1 euro = 61.49 denars)
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