State budget deficit down in September

The state-budget deficit amounted to €2.68 billion at the end of September 2024, the Finance Ministry reported on Tuesday, adding that the budgetary performance thus improved by 31.6 percent, or by €1.24 billion year-on-year (y-o-y).

State-budget incomes increased by €1.1 billion, or by 6.9 percent y-o-y, to €16.9 billion in September. Meanwhile, expenditure fell by €141 million, or 0.7 percent y-o-y, to €19.6 billion.

Tax revenues grew by €841 million in September. "Positive developments were seen in incomes from value-added tax, which went up by €232 million, excise taxes (up €88 million) and withholding tax (up €84 million)," said the ministry.

The special levy from businesses in regulated branches saw record growth of €378 million y-o-y, while the solidarity contribution from activities in the oil, natural gas, coal and refinery sectors fell by €388 million.

Corporate tax went up by €454 million y-o-y in September. Conversely, revenues from personal income tax declined by €13 million.

The Finance Ministry recorded a positive development in terms of revenues from the EU budget, which went up by over €615 million or 33.4 percent. Meanwhile, transfer of money from the Recovery and Resilience Plan still has not been implemented, which resulted in a drop in revenues by €267 million.

The cost of state-debt servicing rose by €173 million (27.8 percent) in the ninth month of the year.

State-budget expenditure related to drawing EU funds saw a y-o-y decrease of €258 million (-11.1 percent). Expenditure related to drawing money from the Recovery and Resilience Plan declined by €25 million y-o-y (-8.1 percent).

Source: TASR