Finances

MOLDOVA’S BUDGET DEFICIT GREW UP BY ANOTHER 800 MILLION LEI – MoF

02 july, 2020

In the first 5 months of the current year, revenues to Moldova’s State Budget shrank by 875.7 million lei (5.9%) against the equivalent period in 2019 and marked 14,047 million lei (US$811.9 million) as on June 1, reported the Moldovan Ministry of Finance.

The MoF explained this with a reduction of Budget revenues by 826.4 million lei (5.6%) down to 13,955 million lei as well as with reduction of proceeds from projects funded from external sources – by 49.3% down to 91.8 million lei.

More than a half of Budget revenues (8,166 million lei) were provided for by the Customs Service, whose proceeds diminished by 3.9%. And revenues administered by the Tax Service dropped by 9.6% down to 6,227 million lei.

Over 93% of State Budget revenues accounted for taxes and duties – 13,021 million lei, or 1,043 million lei less than a year before.

State Budget expenditures grew up by 830.5 million lei (4.5%) – up to 18,155 million lei (US$1,049 million) as of June 1.

As a result, State Budget deficit marked 4,108 million lei (US$237.4 million) against 2402 million lei in January-May 2019. In May 2020 alone, the deficit soared by 804.4 million lei.

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