Government revenues increased with 15 billion ALL in 7 month

18/08/2017 00:00

The government revenues increased with 6.4% for the first seven months of the year, as compared to the same period of 2016.

The Ministry of Finances reported that the budget has collected 248 billion ALL in total, or 15 billion ALL more than one year ago.

Most of the growth came from VAT, national taxes and excise, which have given to the state budget 11 billion ALL more than last year.

However, there has been a higher spending pace. According to the Ministry of Finances, budget spending for the first seven months were 30 billion ALL higher than one year ago.

The growth came especially from social spending, such as pensions, social insurance and compensation of former owners, due to the new property law. Other voices are local government and public investments.

But although spending has increased almost twice, the budget balance has preserved a 2.8 billion ALL surplus.

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