FinMin: State Budget Posted Surplus of €147 mn to End of January

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State budget reported a surplus (Stock photo by TASR)

Bratislava, February 1 (TASR) – Slovakia’s state budget posted a surplus of €146.9 million at the end of January of this year, an increase of €54.5 million when compared to the surplus recorded for the same period last year, the Finance Ministry reported on Thursday.

State budget incomes rose by €18.3 million in January when compared to the same period a year ago, up 1.7 percent year-on-year. Conversely, budget expenditures fell by €36.2 million or 3.7 percent y-o-y. State budget incomes rose by €18.3 million in January when compared to the same period a year ago, up 1.7 percent year-on-year. Conversely, budget expenditures fell by €36.2 million or 3.7 percent y-o-y.

Tax revenues grew by €24 million (2.4 percent) y-o-y. “Positive developments were seen for VAT revenues – up by €59.7 million, for withholding tax – by €6.9 million, for taxes on the use of goods and licences for carrying out activities – by €3.5 million,” wrote the ministry, adding that negative developments were recorded for income taxes and excise taxes.

As for other state budget revenues, a year-on-year decline of €2.3 million or 4.6 percent was seen in January. Conversely, capital revenues were €0.2 million higher year-on-year.

Expenditures on debt servicing posted a y-o-y decline of €38.2 million or 18.4 percent. A y-o-y increase of €27.6 million was seen in the category of state budget expenditures related to drawing resources from the EU budget, which meant an increase of €5.4 million in cofinancing funds. The payment to the EU budget recorded a y-o-y reduction of €25.9 million.