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The currently valid budget document projects a deficit of EUR 859m for this year, which is corrected to EUR 1.39bn in the supplementary budget that is to be endorsed by parliament on Friday.

Revenue is planned at EUR 8.56bn in the supplementary budget, down EUR 64m from the original one, and expenditure at EUR 9.95bn, up EUR 461.8m.

Budget revenue in January was EUR 714.2m, compared to EUR 661.6m in January 2014. Tax revenue amounted to EUR 649m, EUR 22m above the projection made by the Financial Administration.

EUR 31.9m was drawn from the EU budget, which compares to EUR 232.2m in December and EUR 27.4m in January 2014. EU funding is planned at almost EUR 1.1bn for this year in the supplementary budget.

Budget expenditure in January amounted to EUR 858.6m, down 3% compared to the same month in 2014. The cost of loan interest was EUR 141.8m, while the cost for the year is planned at just shy of a billion euros.

The budget shortfall for 2014 was EUR 1.2bn or EUR 19m below the figure projected in the supplementary budget passed in November.