CROATIA ACCUMULATED BUDGET SURPLUS IN 1998

ZAGREB, Feb 15 (Hina) - The revenue of the Croatian State Budget was about 43.81 billion kuna (approximately 6.5 billion US dollars) in 1998, with an increase of 29.4 percent in comparison to the amount in 1997, the Finance Ministry reported. Most of it, 39.9 billion kuna (about US$ 6 billion), was covered by the tax revenues, while the rest of 2.1 billion kuna (320 million dollars) was ensured by non-tax receipts. According to the Finance Ministry, the registered increase in the 1998 revenue was mostly the consequence of the collection of considerable revenue from the Value Added Tax. Customs revenues dropped by 550 million kuna (about 83 million dollars) due to the decreased import and liberalisation of the trade with Slovenia, Bosnia-Herzegovina and Macedonia. A total of expenditure and lending was 42.5 billion kuna (US$6.4 billion) in 1998 rising by 21.6 percent from 1997. According to the SNA methodology, the budget expenditure climbed by 12.2 percent, while state investments along with capital transfers mounted by 31.4 percent. Last year saw the total budget surplus of 1.26 billion kuna (about 190 million dollars) thanks to such realisation of income and expenditure. (hina) mm ms