342 million euros more in the state coffers during the first five months of the year! Rising prices, the main cause

By the end of May, 342 million euros more were collected compared to the same period a year ago. Beyond the good news that this constitutes for the government, the collection of more money shows the simultaneous increase of prices in a good part of the market segments, thus impoverishing the budgets of Albanian households.

According to the official announcement of the Ministry of Finance të total income for the 5-month period of 2022 were realized at the rate of 107% of the 5-month plan.

General public expenditures, for the fifth month of 2022, amounted to about LEK 213 billion with a realization of 90% of the plan for the period, while compared to the same period of 2021 this item has resulted 0.6 percent higher or Lek 1.28 million more .

Surplus level for the 5-month period of 2022 resulted in about ALL 19.876 billion. Compared to the same period of the previous year, where the deficit level resulted in the amount of about ALL 20,671 billion.

Income

The total revenues for the 5-month period of 2022 were realized in the amount of 233.3 billion Lekë or 107% of the 5-month plan. Compared to a year ago, revenues have increased by ALL 41.8 billion.

Graph 1: General Revenues (in millions of Lekë)

Revenues collected by the General Directorate of Taxes and the General Directorate of Customs (including Contributions collected by the GDT), were estimated at ALL 204.7 billion, 38.1 billion or 22.8% more, compared to 2021, and 12.3 billion or 6.4% more than the 5-month plan for 2022.

Customs revenue (revenues from VAT on imports, excises, customs duties and royalties) were realized in the amount of ALL 83.8 billion, ALL 16 billion or 23.6% more than 5 months 2021, as well as ALL 3.5 billion or 4.3% more than the plan of customs revenue for the 5 months of 2022.

Income from VAT on imports for the 5 months are 59.3 billion ALL, 13.5 billion ALL or 29.5% more than a year ago, as well as 3.7 billion or 6.7% more than the plan for the 5 months 2022.

Income from excise have been realized in the amount of ALL 19.5 billion, ALL 1.2 billion or 6.5% more than in 2021, as well as ALL 1.7 billion or 7.8% less than the excise plan for the 5 months 2022.

Income from royalty in exports were realized in the amount of ALL 1.9 billion, 831 million or 78.7% more compared to the previous year and realization in the amount of 151.6% against the plan.

Income from customs duties were collected in the amount of ALL 3.1 billion, ALL 453 million or 16.9% more than 5 months 2021, as well as realization in the amount of 129.6% against the plan.

Income tax (net VAT revenues in the country, profit tax, personal income tax, national taxes and contributions collected by the GDT), for the 5 months 2022 were realized in the amount of 120.9 billion ALL, 22.1 billion or 22.3% more than 5 last month, as well as ALL 8.8 billion, or 7.9% more than the 5-month plan 2022.

Income from VAT collected (net)was realized in the amount of ALL 16.6 billion, 7.2 billion or 76.1% more than the 5 months 2021, as well as 320 million or 2% more than the VAT plan to be collected in the 5 months 2022. Refunds for the 5-month period 2022 are ALL 5.6 billion, ALL 6.8 billion or 54.8% less than the 5 months 2021, as well as ALL 1.5 billion or 20.8% less than the VAT refund plan for the 5 months 2022.

Revenue collected by profit tax were realized in the amount of ALL 20.8 billion, ALL 5.6 billion, or 37.2% more than 5 months 2021, as well as ALL 5.8 billion or 38.7% more than the 2022 plan for Profit Tax.

Personal income tax was collected in the amount of ALL 19.1 billion, ALL 3.1 billion or 19.1% more than the 5 months 2021, as well as 927 million or 5.1% more than the 5 month plan 2022.

National taxfor the 5-month period 2022 were realized in the amount of ALL 16.6 billion, ALL 1.8 billion or 11.9% more than the 5 months 2021, as well as ALL 409 million or 2.5% more than the plan set for the 5 months 2022.

Revenue collected by social and health insurance contributions (administered by GDT), were realized in the amount of ALL 47.8 billion, ALL 4.4 billion or 10.2% more than 5 months 2021, as well as 103% realization of the plan for 5 months 2022.

outlay

General public expenditures, for the 5-month period of 2022, amounted to about ALL 213.4 billion with a realization of 90.5 percent of the plan for the period, while, compared to the same period of 2021, this item was higher or ALL 1.28 billion more . In annual terms, the total expenditures for the 5 months of 2022 were realized in the amount of 33.5 percent of the annual plan according to the Initial Budget and 33 percent of the annual plan according to Normative Act no.3, dated 12.03.2022 (AN no.3).

Current and capital expenditures, for the 5-month period, they achieved a realization of 96.7 percent and 79.4 percent of the plan for the period, respectively. Whereas, in annual terms they have been realized respectively in: 36.1 percent and 18.6 percent of the annual plan according to the initial budget and 36.5 percent and 20.3 percent of the annual plan according to AN no.3.

Current expenditures for the 5-month period of 2022 resulted in about LEK 183.26 billion, while compared to the same period of the previous year this item was 4.6 percent higher or about LEK 8 billion more.

Capital expenditures for the 5-month period of 2022 represent a realization in the amount of 22.27 billion LEK. Compared to the same period of 2021, this item is 39.2 percent lower or about Lek 14.35 billion less.

Graph 2: Current and capital expenditures Plan vs Fact (in millions of Lekë)

Surplus level for the 5-month period of 2022 resulted in about ALL 19.9 billion from about ALL 17.8 billion planned deficit. Compared to the same period of the previous year, where the deficit level resulted in the amount of about ALL 20.7 billion, for the 5-month period of 2022 there is a significant increase in the level of surplus.

Graph 3: Revenues, expenditures and deficit / surplus – Plan vs Fakt (in million ALL)

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