MOLDOVAN STATE BUDGET DEFICIT AS OF EARLY JUNE GREW MORE THAN IN WHOLE 2018

Revenues to the state budget exceeded 14,922 million lei (US$829 million) as of the beginning of June, growing 902.4 million lei (6.4%) in January-May against the equivalent period of 2018.

According to the Ministry of Finance, the growth is due to the growth of the main revenues by 1,025 million lei (7.5%) – to 14,781 million. However, the revenues from projects, financed from foreign sources, registered a decline by almost one-half – to 141.1 million lei.

Over one-half of revenues (8,496 million lei) of revenues came from the customs service, revenues from which grew 7.7%. Revenues administrated by the Tax Service, grew 4.3% – to 6,886 billion lei.

The leading role in the structure of revenues belongs to the VAT – 7.79 billion lei (+11.7%), tax on income – 2,971 million lei (-3.5%) and excise taxes – 2,069 million (11.4%). Meanwhile, the Ministry of Finance returned 1,023 million lei in the form of VAT and excise taxes to economic agents, which is 150.7 million lei less than a year ago.

The state budget expenditures grew 22.7% over a year, exceeding 17,325 million (US$962.5 million) as of the beginning of June. The biggest growth was registered in costs for social protection – 1,196 million lei, education - 911 million, public services – 636.2 million lei.

As a result, the state budget deficit accounted for 2,402 million lei (US$133.4 million) against 97.4 million lei a year ago and 129 million lei more than the deficit over the entire 2018.

The balance of means on state budget accounts grew 157.9 million lei year to date, accounting for 4,351 million as of the end of May, 1.847 million lei of which – to projects financed from external sources.