The state budget deficit grew by €2.212 billion, a 145.8 percent year-on-year increase, reaching €3.729 billion by the end of August 2023, as reported by the Finance Ministry. At the end of July, the deficit stood at €3.114 billion. State budget revenues in August increased by €1.763 billion or 14.8 percent year-on-year to €13.686 billion, while expenditures rose even more, increasing by €3.976 billion or 29.6 percent year-on-year to €17.416 billion. Notably, tax revenues increased by over €1 billion year-on-year, with positive developments in value-added tax, withholding tax, and excise duties. Furthermore, revenues from the EU budget also increased by almost €510 million compared to the same month last year. In contrast, expenses related to servicing government debt decreased by €71 million in August year-on-year, while expenditures linked to EU funds drawdown increased by €874 million year-on-year, and the cost of co-financing rose by €81 million. Expenditures related to the drawdown of funds from the Recovery and Resilience Plan increased by €269.8 million.
Source: TASR
