In January-November the revenue of Moldova’s state budget was MDL 24 billion 953 million, down by 0.9% YoY (MDL 234.7 million).
The State budget expenditures were MDL 28 billion 230.5 million, up by MDL 1 billion 674.6 million or by 6.3% YoY, the Ministry of Finance informs. As a result, the state budget deficit amounted to MDL 3 billion 277.5 million in January-November against MDL 1 billion 368.2 million recorded in the same period of 2015.
In the reporting period, the revenue generated by the Customs Service was MDL 15 billion 700.4 million (+9.7%), while the revenue generated by the Tax Service was MDL 10 billion 153.2 million (+10.7%). The Finance Ministry reimbursed VAT and excise taxes at an amount of MDL 2 billion 365.2 million (+15.8%).
The decline in the revenue of the State budget by MDL 234.7 million is explained by the lower incomes from externally-funded projects, which amounted to MDL 331.7 million in the reporting period, down by MDL 1 billion 312.1 million or by 79.8% YoY. At the same time, the general revenue of the State budget increased by MDL 1 billion 077.4 million (by 4.6%) to MDL 24 billion 621.3 million. The incomes from externally-funded projects reduced as the inflow of external grants narrowed after a number of investment projects (e.g. Millennium Challenge Corporation) had been completed and because the amount of external grants for 2016 had been cut by 57.7% YoY. Besides, this year the budget of Moldova has been short of the net profit gained by NBM, while last year the relevant transfers reached MDL 889.4 million.
The January-November expenditures were mostly formed by the expenditures on education (MDL 7 billion 492.9 million, 26.6% of the total amount), social protection (MDL 5 billion 938.6 million, 21%), general public services (MDL 4 billion 484.7 million, 15.9%), economic services (MDL 3 billion 227.5 million, 11.4%), health care (MDL 2 billion 891.2 million, 10.2%) and State defense and public order enforcement (MDL 2 billion 778 million, 9.8%). (InfoMarket/Business World Magazine)