Minoski: State Budget in excellent condition at the onset of 2017

Skopje, 3rd January 2017 (MIA) – State Budget is in excellent condition. Last year ended with an excellent 99% collection of taxes and by around 1 percentage point lower deficit than the projections. Budget execution, such as payment of salaries and pensions, as well as other expenditures, will be smooth and on regular basis this year as well, as was the case so far. Minister of Finance, Kiril Minoski, said for an interview with TV Sitel.

As the Minister underlined, although the opposition noted, on several occasions, that budget revenues were projected unrealistically, their performance reached almost 100%.

- According to 2016 data, despite the series of scenarios and speculations that part of the revenues was inflated, it appeared that it was not the case. Tax revenues experienced 99% performance, which is an excellent figure, Minoski said.

Compared to 2015, total revenue collection surged by 5%, tax revenue collection increased by 7.8% and contribution collection picked up by 5%.

Minoski pointed out that 2016 budget deficit would be below the 3% threshold, i.e. in line with both the Maastricht criteria and the recommendations of the IFIs.

- At the start of this year, funds are sufficient to provide for smooth budget functioning and execution, Minoski said, adding that salaries and pensions will be paid on regular and continuous basis, as was the case so far.