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Albania’s 2017 budget gap widens

Albania’s 2017 budget gap widens

Albania recorded a budget deficit of 31 billion leks ($286 million/234 million euro) in 2017, up 16.3% compared to a year earlier, according to data published by the finance ministry on Friday.

Consolidated budget revenue rose 5.7% year-on-year to 430.4 billion leks, while spending increased 6.4% to 461.4 billion leks, the ministry said in a press release.

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Tax revenue grew 7.3% on the year to 376.2 billion leks, while VAT proceeds increased 6.2% to 139.5 billion leks in 2017.

Albania’s 2018 state budget, built on projections for 4% economic growth, envisages a deficit equivalent to 2% of GDP.

News Source : Seenews

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