TIRANA – North Macedonia’s consolidated budget gap was 7.4 billion denars ($130.1 million/120.3 million euro) in the first quarter of 2020, more than double compared with the 3.2 billion denars deficit in the same period last year, finance ministry data showed as quoted by SeeNews.
Consolidated revenues in the January-March period totaled 46.5 billion denars, compared with 46.1 billion denars in the like period of 2019. Tax revenues fell to 264 million denars from 313 million denars, according to data published by the finance ministry on Monday.
Total expenditures rose to 53.9 billion denars in the review period, compared with 49.3 billion denars in the first quarter of 2019.
In March alone, the budget gap increased to 3.1 billion denars, compared with 503 million denars deficit in the same month last year.
North Macedonia’s finance minister Nina Angelovska said earlier this month that the 2020 budget deficit planned at around 300 million euro, is expected to increase by between 700 million euro and 1.3 billion euro due to the coronavirus crisis. /argumentum.al
