Budget revenues decline by 30 percent in the first five months

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Macedonia is experiencing a catastrophic decline in budget revenues, and Finance Minister Nina Angelovska announced today that there is a large decline of almost 30 percent of revenues in the state treasury.

She underlined that as of the end of May, budget revenue stands at Mden 12.7 billion, a 24% decrease compared to the same period in 2019, while tax revenue stands at Mden 6.5 billion, a 28% decrease. Meanwhile, contributions have remained at the same level as last year and equal Mden 5 billion.

“Having in mind that tax revenue in April 2020 was 31% less than in April 2019, today’s figures show an improvement. The Finance Ministry’s primary scenario estimated a 31% decrease in state revenue realization, which in reality has only come to 28%. This shows that projections were correct,” Angelovska said.

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