MOLDOVAN BUDGED DEFICIT EXCEEDED US$123.3 BILLION

Revenues to the state budget grew 1,719 million lei (6.4%) as of the beginning of October against the equivalent period of 2018 and exceeded 28,462 million lei (US$1,626 million).

According to the Ministry of Finance (MoF), the growth is explained by the growth of 7.3% – to 28,251 million lei, while revenues from projects, financed from external sources almost halved – to 211.3 million lei.

Over one-half of revenues (16,441 million lei) came from the customs service, revenues from which grew 6.8%. The tax service deductions grew 3.4%, while the sum of revenues is 12,761 million lei.

The main role in the structure of revenues is still played by the VAT – 14,678 million lei (+8.2%), the income tax – 5,109 million lei (-2.2%) and excise taxes – 4,314 million (+8.4%). Meanwhile, the ministry returned 2,102 million lei (-2.2 million lei) to economic agents in the form of VAT and excise taxes in January-September.

The state tax expenditures grew 4,263 million lei (16.2%) over a year, reaching 30,622 million (US$1,749 million) as of the beginning of October. Thus, they exceeded revenues by 2,159 million lei, though a year ago the situation was vice versa – the revenues were 386.5 million lei higher than expenditures.

The balance on state budget accounts fell 608.1 million lei year to date, accounting for 3,901 million as of the end of September, including 1,479 million lei for projects financed from external sources.