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Total revenues for the 11 months are realized at the rate of 103% of the plan or 75 billion ALL more compared to a year ago, according to data published by the Ministry of Finance and Economy.
The preliminary performance of the consolidated fiscal indicators for the 11-month period (January – November 2021) reflects the performance of revenue collection and realization of expenditures.
Total revenue for the 11-month period of 2021 were realized at the rate of 103% of the 11-month plan.
General public expenditures, for the 11-month period of 2021, 89.5% of the period plan were realized.
In line with budget forecasts and macroeconomic indicators, ndeficit level in the month for the 11-month period of 2021 resulted in about ALL 32 billion.
11-Month Preliminary Performance of Revenue and Expenditure
Income
Total revenues for the 11-month period of 2021 were realized at the rate of 458 billion or 103% of the 11-month plan. Compared to a year ago, worship has increased by 75 billion.
Graph 1: General Revenues (in millions of Lekë)
Source: Ministry of Finance and Economy (2021)
Revenues collected by the General Directorate of Taxes and the General Directorate of Customs (including Contributions collected by the GDT), were estimated at ALL 400.4 billion, 60.8 billion or 17.9% more, compared to 2020, and 21.3 billion or 5.6% more than the 11-month plan for 2021.
Customs revenue (revenues from VAT on imports, excises, customs duties and royalties) were realized in the amount of ALL 172.4 billion, ALL 35.1 billion or 25.6% more than 11 months 2020, as well as ALL 18.9 billion or 12.3% more than the plan of customs revenue for the 11 months of 2021.
Income from VAT on imports for the 11 months result in ALL 116.8 billion, ALL 26.9 billion or 29.9% more than a year ago, as well as 16.2 billion or 16.1% more than the plan for the 11 months 2021.
Income from excise were realized in the amount of ALL 46.6 billion, ALL 6.6 billion or 16.6% more than in 2020, as well as ALL 1.9 billion or 4.2% more than the excise plan for the 11 months of 2021.
Income from royalty in exports were realized in the amount of ALL 2.2 billion, 132.3% compared to the previous year and realization in the amount of 99.9% against the plan, or ALL 3 million less
Income from customs duties were collected in the amount of ALL 6.7 billion, ALL 1.1 billion or 19.5% more than in the 11 months of 2020, as well as ALL 823 million or 14% more than the 11-month plan 2021.
Income tax (net VAT revenues in the country, profit tax, personal income tax, national taxes and contributions collected by the GDT), for the 11-month period 2021 were realized in the amount of ALL 228 billion, 25.7 billion or 12.7% more than Last month’s 11-month period, as well as ALL 2.5 billion, or 1.1% more than the 2021 11-month plan.
Revenues from VAT collected (net), was realized in the amount of ALL 27.5 billion, 124 million or 0.5% less than the 11-month 2020, as well as 8.7 billion or 24.1% less than the VAT plan to be collected in the 11-month 2021. Refunds for the 11-month period 2021 reached ALL 22.3 billion, ALL 7.7 billion or 52.8% more than the 11-month 2020, as well as ALL 6.4 billion or 40.3% more than the VAT refund plan for the 11-month 2021.
Revenue collected by profit tax were realized in the amount of ALL 30.7 billion, ALL 5.9 billion, or 23.6% more than the 11-month 2020, as well as ALL 886 million or 3% more than the 2021 plan for Profit Tax.
Personal income tax was collected in the amount of ALL 36.5 billion, ALL 2.8 billion or 8.4% more than the 11-month 2020, as well as 879 million or 2.4% less than the 11-month plan 2021.
National tax, for the period January-October 2021 were realized in the amount of ALL 35.8 billion, ALL 5.4 billion or 18% more than the 11-month 2020, as well as ALL 3.4 billion or 10.5% more than the plan set for the 11-month 2021.
Revenue collected by social and health insurance contributions (administered by GDT), were realized in the amount of ALL 97.5 billion, ALL 11.4 billion or 13.3% more than the 11-month 2020, as well as the realization of 108.7% of the plan for the 11-month 2021.
outlay
Total public expenditures, for the eleven-month period of 2021, amounted to about 490.1 billion LEK with a realization of 89.5 percent of the plan for the period, while compared to the same period of 2020 this item was 7.6 percent higher or about Lek 34.5 billion more. In annual terms, The total expenditures for the 11 months of 2021 were realized in the amount of 82.7 percent of the annual plan according to the initial budget and 80.3 percent of the annual plan amended by Normative Act no. 26, dated 22.06.2021 (AN no. 26).
Current and capital expenditures for the 11-month period marked a realization of 95.6 percent and 53.1 percent of the period plan, respectively.
Graph 2: Current and capital expenditures Plan vs Fact (in millions of Lekë)
Source: Ministry of Finance and Economy (2021)
Deficit level for the 11-month period of 2021 resulted in about LEK 32.2 billion, or about LEK 40.7 billion less than the same period of the previous year. For the 11-month period, the deficit level is 30.7 percent of the plan for the period of about 104.76 billion LEK. In annual terms, the deficit level was realized 29.6 percent of the initial annual plan and 26.7 percent of the amended annual plan.
Graph 3: Revenues, expenditures and deficit / surplus – Plan vs Fakt (in million ALL)
Source: Ministry of Finance and Economy (2021)
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