N. Macedonia's Jan-Mar budget gap quadruples y/y

Consolidated budget revenues totalled 69.4 billion denars in the January-March period, compared with 28.2 billion denars in the like period of 2023, as tax revenues fell to 274 million denars from 328 million denars, finance ministry figures showed.

Total expenditures rose to 84.1 billion denars in the review period, compared with 26.2 billion denars in the like period of 2023.

In March alone, the budget was in deficit of 3.5 billion denars, compared with a 2.1 billion denars surplus in the same month last 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 = 61.57 denars)