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Ljubljana
Tuesday, August 9, 2022

A 147 million euros surplus in the state budget in April

By C.R.

The state of public finances is improving significantly. In the first four months of this year, state budget revenues reached approximately 4.18 billion euros and were 701 million euros or 20.1% higher than in the same period last year. The state budget deficit narrowed again in April, to more than 1 billion euros less than in the first four months of 2021. Expenditure is growing slower than expected; it amounted to slightly less than 4.30 billion euros, which is 409.9 million euros or 8.7% less than in the same period last year.

In the first four months, the budget deficit amounted to 114 million euros, while in the same period last year it amounted to 1.2 billion euros.

The adopted budget envisages a deficit of 2.47 billion euros for the whole of this year, which means that the current deficit is 4.6% of the planned deficit.

Inflows from tax revenues in the first four months reached around 3.38 billion euros and were 15.7% or 458.4 million euros higher than in the same period last year.

High employment and a stable labour market significantly contributed to the growth of personal income tax revenues, which increased by 9.1% to 632.3 million euros.

Value added tax inflows are also growing. They reached approximately 1.56 billion euros, which is 24.2% or 304.3 million euros more than in the same period last year. This is a reflection of economic activity driven by investment and vibrant private consumption.

Corporate income tax revenues increased by 13.4% or 45.5 million euros to 385.8 million euros due to corporate performance, while revenues from excise duties increased by 13.8% or from 18.7 million euros to 404.8 million euros.

Non-tax revenues in the first four months of this year amounted to 263.2 million euros and were 49.5 million euros or 23.2% higher than in the same period last year. Most of the difference relates to treasury operations in connection with borrowing and servicing the debt of the Republic of Slovenia.

Funds received from the European Union amounted to 466.4 million euros in the first third of the year, which is 159.7 million euros or 52.1% more than in the same period last year.

In the first four months, we allocated 491.5 million euros, or 27 million euros or 5.2% less than in the same period last year. The decrease is largely due to non-payment of allowances for work in special conditions and risky situations.

Interest expenses in the first third of the year totalled 342.9 million euros and were 78.5 million euros lower than in the same period last year.

This year, we allocated 646.7 million euros for transfers to individuals and households, which is 38.3% or 401.2 million euros less than last year. Transfers to the unemployed decreased by 19.1 million euros or 25.2% due to a lower number of unemployed.

In four months, the state budget allocated 217.7 million euros, or 22.2 million euros or 11.3%, more than in the same period last year.

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