Croatia's budget gap in first ten months HRK 6.3 billion

Budget revenues in this year's first ten months amounted to HRK 88.27 billion, while expenditures were HRK 94.58 billion, with the deficit amounting to HRK 6.31 billion, the Finance Ministry said on Thursday.

Year-on-year, the budget gap in the first ten months of 2015 was down 18 per cent. However, figures on the overall deficit cannot be compared by methodologies, given the exemption of the Croatian Health Insurance Agency (HZZO) from the budget at the start of this year.

Revenues from the Value Added Tax in the first ten months of 2015 amounted to HRK 36.3 billion, up 5.5% on the year. However, interest rates amounted to 9.48 billion kuna which is 8% more than in the corresponding period the year before.

In October alone, budgetary revenues totalled 9 billion kuna, down 7.7% from October 2014, while expenditures stood at 9.5 billion, or 7.1% less on the month.

Deficit in October amounted to 508 million kuna while the same month the year before it was 486 million.

Last update: Thu, 10/12/2015 - 12:58

More from Business

Tobacco giant BAT agrees to 49-billion-dollar takeover of US rival

British American Tobacco Plc on Tuesday said it has finalized a deal to acquire 57.8 per cent of shares of US rival...

IMF raises China growth forecast, but warns of sharper slowdown

China's economy will expand by 6.5 per cent this year, the International Monetary Fund said on Monday, as it warned...

Trump's warning to German carmakers hits shares

Shares in German carmakers tumbled on Monday after incoming US president Donald Trump threatened the industry with...

Report: Ex-Volkswagen head knew about scandal two months before

Former Volkswagen chief executive Martin Winterkorn knew about the company's emissions scandal two months earlier...

Takata to pay 1-billion-dollar criminal fine over defective airbags

Beleaguered Japanese car-parts supplier Takata has agreed to pay a criminal penalty of 1 billion dollars, and three...