The Surplus of the Slovenia’s State Budget in August Made 73.4 Million Euros
In August, the Slovenia’s treasury surplus reached 73.4 million euros. At the same time, contrary to the forecast, the budget deficit amounted to only 63% of the estimated figure. The total size of the deficit over the last 8 months of 2016 is estimated at 530.1 million euros.
According to the government estimates, the total size of the budget deficit in 2016 will be the lowest since the beginning of the economic crisis. It will amount to 839.3 million euros (2.1% of GDP). As of August, it reached 63% of this figure.
According to the Ministry of Finance of Slovenia, the total amount of state treasury revenues for August exceeded the same period last year and reached 751.7 million euros, while the current budget expenditures in August decreased by 10.3% as compared to July and amounted to 678.2 million euros.
Tax revenues for the treasury amounted to 627.2 million euros, which is 33.3 million euros more than last year, and VAT charges have dropped from 253 million euros to 228.1 million euros this year. However, as explained by the Ministry, it is a consequence of changes in the VAT legislation that simplifies the calculation and payment of import VAT. It is expected that the gap will be compensated in September.
During the period from January to August 2016, the Slovenia’s budget increased in the amount of 5.47 billion euros, which is 107.2 million euros (1.9%) less than in the same period of 2015. The Ministry of Finance explains this decline as a result of the EU investments. Tax collections increased by 95.3 million euros (2.1%) and amounted to 4.73 billion euros.
Budget expenditures for the first eight months of 2016 are estimated at 5.99 billion euros.