Albania's budgetary income exceeds target-Xinhua

Albania's budgetary income exceeds target

Source: Xinhua| 2024-08-20 21:01:45|Editor: huaxia

TIRANA, Aug. 20 (Xinhua) -- The government of Albania generated 402.5 billion Albanian lek (4.5 billion U.S. dollars) in fiscal income during the first seven months of this year, reaching 103 percent of the planned target for the period, according to the Ministry of Finance on Monday.

General public expenditures totaled 347.5 billion lek, reaching 92.3 percent of the planned budget, according to the ministry.

The budgetary surplus in the first seven months exceeded 50 billion lek, which is unusual given that most countries around the world are facing budgetary deficits.

The fiscal surplus has also contributed to the rising value of the lek against major currencies, which is causing concern for the Bank of Albania, according to local media.

The Albanian government raised salaries for employees in public service sectors starting July 1, which is expected to lead to an increase in expenditures in the future. (1 Albanian lek = 0.011 U.S. dollar)

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