Less revenues from taxes
19/03/2013 19:45
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The Albanian government finances have entered an unstoppable downfall.
Recent data from the Finance Ministry show that the total revenues
collected by the state budget in February were 1.5 billion ALL less than
one year ago, or 6.5% lower.
The total revenues of this year are almost equal to those of one year ago, due to the strong growth of the non-tax revenues during January.
This includes the revenue of the Albanian Bank and the revenues collected by the budget institutions for their services to citizens, which are unstable.
The revenues from taxes and customs, which are the real indicator of the fiscal progress, are 1 billion ALL lower than one year ago.
The lower revenues have affected the main budget indicators. The strongest shrinking is that of the consumption basis and VAT.
According to the figures, in the first two months of this year, the VAT revenues were 9% lower than one year ago, warning a further drop of consumption rates.
Lower incomes obliged the government borrow more money. Only in the first two months, the government has borrowed 97 million USD, which is 35% of the entire annual plan.
Besides the negative results in these first two months, the government’s finances will have the electoral pressure, another danger that could bring the public finances outside the budget official limits, damaging this way the financial stability of the country.
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