More expenditures, less revenue: current budget figures

Government expenditures are growing faster than revenues, which also increases the deficit. This means that the tool to solve this deficit, the state debt, will also grow.

Revenues are under-fulfilled by 23.9%, while expenditures by 28.5%. Taking into account the fact that there was the under-fulfillment of expenditures, at least in January-September, in the programs implemented under the responsibility of all bodies, presented in the budget report, the current development will persist in October.

At the same time, compared to the same period last year, the state budget revenues increased by 9.4%, while the expenditures by 19.4%. It should be noted that state budget expenditures are increasing twice as fast as revenues.

It is also noteworthy that revenues were mainly provided by tax revenues. In particular, 30.5% of tax revenues and state duties in the reporting period were provided by the value-added tax, which, however, compared to the same period last year, is less than 1.8%. Just a reminder that VAT is directly related to production, the backbone of the economy. Instead, income tax revenues increased by 6.6% year-on-year, which can be attributed to new jobs. But let us repeat: tax revenues related to the business sector decreased.

Despite the low figures, expenditures are generally growing at a faster pace. Moreover, there is a certain pattern that developed around the areas with the highest growth. The highest growth is provided by the housing construction and public services. By the way, after social expenditures, the largest contributions are directed to this sector. And along with this growth, we have an incomparably modest 13 percent growth directed to the defense sector.