Budget’s plunge
18/04/2013 00:00
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Recent official data show that the financial situation of the Albanian
government is deteriorating quickly. The budget revenues for the first
three months of this year were only 75.5 billion ALL.
This was the lowest point, since 2009, a phenomena that the budget has never faced after that.
According to the Ministry of Finances, compared to one year ago, the revenues of the first trimester were 3.8% lower. Detailed financial information from the government show that this deterioration is mainly due to the lowered incomes from the basic consumption taxes, such as VAT.
The VAT incomes for the first trimester of this year were 10% lower than one year ago. The quick plunge is obliging the government to take more loans. The Ministry of Finances has taken more than $189 million in loans, which is 67% of plan for the entire year, putting in question the deficit funds for the rest of the year.
Experts say that the financial danger is great, not only due to the economic slowdown, but also the electoral pressures on the budget
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