May 26 (SeeNews) - North Macedonia posted a budget gap of 12.1 billion denars ($215 million/196 million euro) in the first four months of 2020, compared with a 4.2 billion denars deficit in the same period last year, finance ministry data showed on Tuesday.
Consolidated revenues in the January-April period totalled 60.73 billion denars, compared with 64 billion denars in the like period of 2019. Tax revenues fell to 354 million denars from 423 million denars, according to data published by the finance ministry.
Total expenditures rose to 72.8 billion denars in the review period, compared with 68.1 billion denars in the first four months of 2019.
In April alone, the budget gap increased to 4.7 billion denars, compared with 971 million denars deficit in the same month last year.
Earlier in May North Macedonia revised its 2020 budget to address the effects of the coronavirus crisis. The country is now targeting a deficit equivalent to 6.8% of gross domestic product (GDP), compared with a deficit equivalent of 2.3% of GDP it had projected in its initial 2020 budget.
(1 euro = 61.71 denars)