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IBNA Analysis/Albania’s fiscal indicators for 2016

IBNA Analysis/Albania’s fiscal indicators for 2016
Tirana, 19 August 2016/Independent Balkan News Agency

By Edison Kurani

In the first seven months of this year, Albania has registered a budget surplus, as the level of expenses is lower than the level of revenues.

The data that IBNA received from the Ministry of Finance suggest that total revenues have been 232.1 billion ALL, almost 100% in line with the 7 month forecast for 2016.

General public expenses for the first 7 months of 2016 were 214.1 billion ALL.

These figures have led to a surplus of around 18 billion ALL and as a result, a more favorable budget situation.

Revenues from Customs and Revenues are 201.7 billion ALL or 19.3 billion ALL more than the first seven months of 2015.

Revenues from customs were 3,4 billion ALL, 8,4% more than the first 7 months of 2015 and 2,1% more than projections.

Revenues from excise were 23,4 billion ALL, 9,8% more than the first 7 months of 2015 and 2,3% more than projections, reflecting an increase of the amount of imported cigarettes by 297 tons or +21.7% compared of the same period of 2015.

Other positive indicators have also been registered in excise revenues due to the growth of the amounts compared to the same period of 2015, in both mines and import of goods.

Revenues from VAT within the country have been 17% more than the first 7 months of 2015.

National Taxes have also seen a positive performance amounting to 18 billion ALL, 14,9% more than the first seven months of 2015.

A critical role here is played by the price of minerals in international markets.

On the other hand, revenues from import VAT were 1,9% less. Ministry of Finance says that this has come as a result of the drop of the price of fuel in international markets where these products are quoted.

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General public expenses for the first 7 months of 2016 were 214.1 billion ALL or 89% of the projected figure.

Capital expenses were realized at 81%, thus registering a growth compared to a month ago.

In the first seven months of 2016, fiscal and budget performance has been positive, in line with projected figures and showing great caution in the expenditure that have been made in order to increase the economy’s productivity. /balkaneu.com/

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