Covid-19 leaves significant negative mark in tax revenue collection

TTimes
By TTimes October 16, 2020 13:41

Covid-19 leaves significant negative mark in tax revenue collection

The Ministry of Finance and Economy has published a preliminary performance of fiscal indicators for the 9 months of revenues and expenditures.

According to the Ministry, the total revenues for the 9 months of 2020 were realized in the amount of 99% of the 9 months plan, revised with the last Normative Budget Act. Total revenues for the 9 months of 2020 were realized in the amount of ALL 307.83 billion or 99% of the 9-month plan. Compared to a year ago, revenue has shrunk from the effects of the pandemic of 35.7 billion.

While the general public expenditures, for the 9 months of 2020, were realized at the rate of 92% of the period plan. The general public expenditures also include the Anti COVID-19 Financial Package, provided through two normative acts of the 2020 Budget.

Total public expenditures, for the 9 months of 2020, amounted to 366.25 billion ALL with a realization of 92.44% of the plan for the period, while compared to the same period of 2019 this item has been 5.9% higher or about ALL 20.4 billion more, of which transfers for financial packages in support of business and individuals were ALL 12.8 billion.

TTimes
By TTimes October 16, 2020 13:41