ZAGREB, July 5 (Hina) - In the first five months of this year, the state budget revenue reached 16.7 billion kuna, which is 5.3 per cent less than last year at the same time. Expenditure was 20.7 billion kuna, or 12.2 per cent more
than last year, according to the Finance Ministry. The overall deficit exceeded four billion kuna. According to the Finance Ministry, the revenue decrease is the result of lower capital profits by 94.4 per cent as against the first five months of 2000, when the profits were considerable due to the March 2000 privatisation of Privredna Banka Zagreb. Expenditure increased by 50.8 per cent, mainly due to the growth of subsidies and current transfer payments, which in the first five months totalled 8.5 billion kuna, including over 6.2 billion for the pension and health funds. Budgetary revenue in May totalled almost 4.2 billion kuna, which is
ZAGREB, July 5 (Hina) - In the first five months of this year, the
state budget revenue reached 16.7 billion kuna, which is 5.3 per
cent less than last year at the same time. Expenditure was 20.7
billion kuna, or 12.2 per cent more than last year, according to the
Finance Ministry. The overall deficit exceeded four billion kuna.
According to the Finance Ministry, the revenue decrease is the
result of lower capital profits by 94.4 per cent as against the
first five months of 2000, when the profits were considerable due to
the March 2000 privatisation of Privredna Banka Zagreb.
Expenditure increased by 50.8 per cent, mainly due to the growth of
subsidies and current transfer payments, which in the first five
months totalled 8.5 billion kuna, including over 6.2 billion for
the pension and health funds.
Budgetary revenue in May totalled almost 4.2 billion kuna, which is
20.5 per cent more than in May last year. Expenditure was 4.6
billion, or 19.7 per cent more than in May 2000. This increase is a
result of higher transfer payments to extra-budgetary funds as
compensation for a June 2000 reduction of contribution rates.
The May budgetary deficit (435.6 million kuna) and the repayments
of domestic and foreign debts were covered by 752.7 million kuna
from home revenue (treasury notes) and 141.5 million from foreign
revenue (bonds). According to the Finance Ministry, 443.4 million
kuna of domestic and 15.2 million of foreign debts were repaid in
May.
The most pressure on the growth of total budgetary expenditures
comes from expenses for transfer payments, where payments to funds
increased by 56.6 per cent, reaching 6.2 billion kuna.
($1 = 8.7 kuna)
(hina) ha sb