Opposition concerned over falling revenues

TIRANA, May 23 – The opposition Socialist Party is concerned over the country’s financial situation in the first four months of this year.
The deficit in collecting tax revenues during the first four months of this year is around 9.9 billion lek (99 million dollars), said opposition Socialist Party MP Ilir Beqja referring to government statistics.
“Total revenues increased by 3.1 percent while inflation during the first months stood at 4 percent. Tax revenues increased by 1.5 percent, two times less than the inflation rate,” said Beqja.
According to the Socialist MP, the circulation of goods during the January-April period was lower than the same period last year despite an increase by 4.9 percent in the value added tax.
“The depreciation of the national currency lek by 7 percent, a monthly inflation rate of 4 percent and the administrative increase in the electricity price is enough for everybody to understand that the circulation of goods and services is lower than one year ago.” said Beqja, adding that the corporations were also earning less considering the net decrease in their VAT by 5.5 percent.
Individuals’ revenues have also fallen which is reflected by a 4 percent lower personal income tax.