The Slovenia Times

Budget Deficit Reached Annual Target Already in August!

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As the European Commission had still not approved payments suspended due to faults in the phasing of EU funds, only EUR 15.1m out of the planned EUR 57.7m had returned to the national budget, the Finance Ministry said as it released the latest data on budget implementation on Tuesday.

The deficit had been planned due to the transfer of a part of the excise receipts from August to September. As 30 August as the date for the payment of excise duties fell on Saturday, EUR 50m in excise duties was not collected until September.

Budget expenditure in the first eight months of the year amounted to EUR 6.34bn, which is roughly at the same level as in the comparable period last year, while budget revenue was up 9% year-on-year to EUR 5.31bn. Receipts from the EU budget were down 7% to EUR 451.1m.

Tax revenue was up 9% to EUR 4.24bn, with corporate tax up 38% to EUR 802.6m. Non-tax revenue was meanwhile up 33% year-on-year to EUR 591.7m in the January-August period, the main reason being the take from the concession fees for radio frequencies and mobile telephony.

Data for August alone shows revenue was EUR 20.8m below the figure planned for the month, mainly due to lower than expected personal income tax revenue. Expenditure was EUR 38.7m lower than planned.

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