Fiscal indicators improved
26/04/2014 00:00
The Washington Agreement Must Be Reactivated! 06/01 19:04
The total budget revenues for the first three months of this year were
1.6% more than the plan. The official data show that the government has
collected 82.1 billion ALL in total, or 6.2 billion more than one year
ago.
According to figures, this result came from the strong progress of VAT, which has helped encasing 4.7 billion ALL more than in the last years for the first trimester, with a growth of 20%. Incomes have grown also for VAT coming from health insurance, while excise is dropping 13% less than last year.
On the other hand, the government has been careful with the spending, with 7.4% less than the plan. The grown revenues and spending kept under control have made the budget deficit for the first three months to be two times lower than what had been planned. The fiscal indicators have been a hot topic of debate between the majority and the opposition during the past six months.
On the other hand, the progress of revenues for this year is critical not only for the stability of public finances, but also for another reason, which comes from the agreement with the International Monetary Fund. If the government doesn’t realize the revenues according to the plan, the International Monetary Fund agreement conditions other additional measures. For the first trimester, revenues have not surpassed the 1.6% objective. But part of this is related to the drastic drop of the VAT that is being returned to businesses, with 1.35 billion ALL less than the last year.
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