The increase of taxes earlier this year has given its positive effect in the allocation of state incomes. Based on the official data, published by the Ministry of Finances, the budget incomes for the first six months of 2014 (175.2 billions ALL) are higher than predictions but even compared to one year before.
According to experts, this increase of revenues has come as a result of the allocation of VAT and income tax. Budget revenues that came from VAT, increased by 20% on a yearly basis for the period January-June, approximately 61.2 billions ALL. Revenues that came from income taxes have expanded to 32% at approximately 11.2 billions ALL.
Based on these data, the budget expenditures for the first six months are estimated to be 197.3 billions ALL, while the budget deficit is 22.1 billions ALL.
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