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Finance ministry happy with budgetary revenues, expenditures

Autor: mses
ZAGREB, June 24 (Hina) - The Finance Ministry is very satisfied with the budgetary revenues in the first five months of 2012, since they were 4.5 per cent higher than at the same time last year, while expenditures were 1.1 per cent lower.

Value added tax revenue was 6.7% higher, while income tax revenue and revenue from tariffs on oil products were lower, by 11.2% and 7.9% respectively.

Expenditures for employees remained higher than planned, up 1.9% on the first five months of 2011.

Nonetheless, the Finance Ministry does not doubt that the government will save HRK 2 billion on employees this year, as announced.

In negotiations with public sector unions, the government has proposed reducing benefits for past labour from 0.5% to 0.3% per year of service, which would help save HRK 900 million in six months.

If the unions refuse that and proposals to cut costs on entitlements such as bonuses, the base pay or pay rate of public sector workers will be reduced, the ministry said.

(Hina) ha

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