FinMin: State Budget Surplus Up by 9.3 percent Y-o-Y in January

Finance Ministry (Stock photo by TASR)

Bratislava, February 1 (TASR) – The state budget’s incomes in January 2017 were €167.3 million (18.4 percent) higher year-on-year, the Finance Ministry announced on Wednesday.

Meanwhile, the state expenditures were also up on an annual basis – by €83.5 million (9.3 percent).

“The state budget thus posted a surplus of €92.3 million at the end of January 2017,” reads a Finance Ministry’s report. The surplus was €83.8 million (9.3 percent) higher than in January 2016.

When it comes to tax incomes, they were up by €161.4 million (18.8 percent) y-o-y in January.

“Positive developments were seen in corporate taxes – [up by] €98.8 million, in VAT – €30.1 million, in withholding taxes – €13.8 million, in income taxes of private individuals – €7 million, and in excise taxes – €3.4 million,” reported the ministry.

The income from the EU budget was €7.7 million higher on the year. Meanwhile, capital incomes were down by around €600,000.

In the category of state budget expenditures related to the drawing of EU Funds, the Finance Ministry reported a €23.4-million (77.3 percent) slump, which was also due to a saving of €6 million in the co-funding of individual projects.