Tax revenue this year could be 154 million euros behind the planned / day
She explained that taxes consumption were the biggest risk. At the same time, the General Budget Tax Revenue Plan in the first quarter, excluding the balance in the Single Tax Account, was overflowing by EUR 54.4 million or 1.6%.
Labor tax and corporate income tax revenue plans are well executed, but according to Burģe, more problems are with value added tax and excise tax revenue.
Burģe explained that the forecast of EUR 154 million was not fulfilled by the forecasts changed in March, and there is currently no significant signal to indicate the outcome of any other tax revenue.
At the same time, Burģe said that the MoF will continue to assess the situation and newer macroeconomic forecasts are expected in August.
LETA has already announced that the revenue of the state consolidated budget in the first quarter of this year was EUR 4.054 billion and expenditure of EUR 4.575 billion, thus generating a deficit of EUR 521.2 million.
In the first quarter of a year ago, a surplus was 41.6 million euros.
In the first quarter, the consolidated general budget revenue of EUR 4.054 billion was EUR 42.3 million, or 1% less than three months ago.
The reduction of revenue is mainly explained by the MoF with less than a year ago, the amount of revenue (AFP) received from the European Commission was less than EUR 219 million. The MoF points out that this is in line with the investment cycle of the European Union (EU) funds.
The general budget expenditure, on the other hand, increased by EUR 520.5 million or 12.8% in the first quarter of this year to EUR 4.575 billion. More expenses are associated with the FM with advance payments to the purchase of military inventory in the National Budget Defense Defense Department, as well as significantly higher expenses for the recovery fund and Rail Baltica projects. Expenditure growth is also observed for projects of the new Cohesion Policy Funds.
The total budget tax revenue, including the balance in the Single Tax Account, collected in the first quarter of this year by EUR 202.3 million, or 6.6% more than the corresponding period of 2024, earning EUR 3.3 billion.
