In the first half of the year, revenues were 35.1% higher than in the same period of the previous year

According to preliminary data, the state treasury is fuller by EUR 1,235.7 million in the period January – June 2023, which is EUR 321.3 million more or 35.1% compared to the same period of the previous year. Compared to the plan, revenues in the first half of the year exceeded expectations by EUR 230.3 million or 22.9%, the Ministry of Finance announced.
In June alone, the state earned EUR 252 million, which is EUR 86 million or 51% more compared to the same month of the previous year, ie EUR 84 million or 50% above the plan.
The most significant growth in relation to the plan, records the income from VAT by 9%, excise duty by approx. 16%, corporate income tax by 30%, contributions by 22%, tax on international trade and transactions by 41% and fees by 31%. A significant increase is also recorded in the “other income” category, where the amount for six months is EUR 112 million, which is even EUR 99 million more than the previous year or EUR 64 million compared to the plan, which is, among other things, the result of the termination of the hedging arrangement from 2021.
The total consumption in June was realized at the level of the plan. In the structure of total spending, current spending is above the plan by roughly 5%, of which dominantly in the part of transfers for social protection by roughly EUR 3 million, due to the extraordinary adjustment of pensions. The intensification of payments when it comes to the capital budget is also noticeable, and in June the implementation of the same was at the level of approx. 63% of the plan, which was to be expected, and predictions are that in the coming months the implementation of the capital budget will have a progressive course.
Looking at the preliminary data on revenues and expenditures, in the first half of the year, the budget surplus is at the level of EUR 174 million, or 2.8% of GDP, while in June alone, a surplus of approximately EUR 60 million was realized.
The Ministry notes that even if the execution of the capital budget was at the planned level, the surplus would also be realized, since the deviation from the plan in the execution of the capital budget is EUR 5.85 million in June, that is, EUR 57.95 million for the first half of the year.
– The above figures are an exact testimony to the justification of the measures and policies implemented by the Ministry of Finance, with the support of the Government, and which were implemented, predominantly in areas that have been neglected for years, such as excise policy, the expansion of the tax scope and the reduction of the gray economy – the announcement states.
As it is added, the Ministry of Finance has confirmed that, by responsible and careful fiscal policy planning, even in a very unstable environment, it is possible not only to establish the stability of public finances, but also to significantly increase state income and wages for a large part of the working population, without increasing basic tax rates and with minimal debt, in relation to the budget limit.

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