January-July, budget revenue increased by 8.2% annually, helping higher imports

2024-08-19 16:47:00, Ekonomi CNA

The total income for the 7-month period reached about ALL 402,514 million or 103% of the plan for the period. Compared to the same period last year, about 11,646 billion lek more or 8.2% more than the 7 months of 2023 were collected, official sources in the Ministry of Finance announced.

The revenues collected by the General Directorate of Taxes and the General Directorate of Customs for the period January-July 2024 amounted to 261.5 billion lek, 5.2 billion lek or 2% more than the 7-month plan for 2024. Compared to 7- monthly 2023, 22.4 billion lek or 9.4% more have been collected.

Customs revenues (revenues from import VAT, excise duties, customs taxes and mining rents) were realized in the amount of 131.2 billion lek, 9.6 billion lek or 7.9% more than in the 7th month of 2023, as well as 1.2 billion lek or 0.9% more more than the customs revenue plan for the 7th month of 2024.

Revenues from VAT on imports for the 7th month result in 89.5 billion lek, 6.6 billion lek or 7.9% more than the same period of the previous year, as well as 566 million or 0.6% more than the plan for the 7th month 2024.

Revenues from excise duty were realized in the amount of 34.9 billion lek, 3 billion lek or 9.4% more than the same period of 2023, as well as 573 million lek or 1.7% more than the excise plan for the 7-month 2024.

Revenues from mining rents in export were realized in the amount of 1.6 billion lek, 180 million lek or 9.9% less compared to the same period of last year and realized in the amount of 90.3% compared to the plan for the 7th month of 2024.

Revenues from customs taxes have been collected in the amount of 5.2 billion lek, 134 million lek or 2.6% more than the 7-month 2023, as well as realization in the amount of 104.2% against the plan.

Tax revenues (revenues from net VAT in the country, profit tax, personal income tax, national taxes), for the 7th month of 2024, amounted to 130.3 billion lek, 12.9 billion lek or 11% more than 7- last year's month. Compared to the 7-month plan, the collected income is 4 billion lek or 3.2% more.

Revenues from collected VAT (net) were realized in the amount of 32.7 billion lek, 6.3 billion lek or 23.7% more than the 7-month 2023, as well as 936 million lek or 2.9% more than the VAT plan to be collected in the 7-month period 2024. Refunds for the 7-month period 2024 are 14.7 billion ALL, 4 billion ALL or 37% more than the 7-month period 2023, as well as 4.6 billion ALL or 45.9% more than the VAT refund plan. for the 7th month of 2024.

The income collected from the profit tax was realized in the amount of 36.1 billion ALL 916 million ALL, or 2.5% less than the 7-month 2023, as well as 2.2 billion ALL or 6.6% more than the 7-month plan of 2024 for Income Tax.

Personal income tax was collected in the amount of ALL 38.1 billion, ALL 5.1 billion or 15.3% more than the 7-month 2023 plan, as well as ALL 732 million or 2% more than the 7-month 2024 plan.

National taxes for the 7-month period 2024 were realized in the amount of 23.3 billion lek, 2.5 billion lek or 11.9% more than the 7-month period 2023, as well as 80 million lek or 0.3% more than the plan for the 7-month period 2024.

The income collected from contributions for social and health insurance (administered by DPT) was realized in the amount of 92 billion lek, 9.6 billion lek or 11.6% more than the 7-month 2023, as well as 101.1% realization of the plan for the 7-month 2024.

Spending, annual growth of 6.3%

General public expenditures, for the 7-month period of 2024, reached about 347.5 billion ALL with a realization of 92.3 percent of the plan for the period, while compared to the same period of 2023, this item was 6.3 percent more high or about 20.5 billion ALL more. In annual terms, the general expenses for the 7th month of 2024 were realized to the extent of 47.1 percent of the annual plan according to the initial budget and 46.7 percent of the annual plan according to Normative Act no. 1 dated 21.02.2024 (AN no. 1).

Current expenses for the 7-month period of 2024 resulted in approximately ALL 314.7 billion, while compared to the same period a year ago, this item was 8.5 percent higher or approximately ALL 24.8 billion more./ Monitor magazine