Petrova: Enormously increased state borrowing compared to 2023

Photo: Government of RSM

The government borrowed a new 315 million euros on the domestic market from the beginning of this year until the announcement of the elections, ie until February 15. This borrowing is even higher by 281 million euros compared to the same period last year, which is an increase of about 840%, Deputy Minister of Finance in the Technical Government Elena Petrova wrote on her Facebook profile.

"The Government used this new borrowing mostly to finance the budget deficit that was generated during this period. Namely, the Government spent 763 million euros during this period, and 555 million euros entered the budget from taxes, contributions and other revenues. This negative difference (budget deficit) of 208 million euros is greater by even 101% compared to the same period last year," wrote Petrova.

"For what did the Government, that is, the state authorities and institutions, spend more in this period than in the same period last year?" The costs for wages and benefits of employees in ministries, bodies and institutions are higher by 20%. Pensions, social allowances and other similar transfers, which are the majority of budget spending, have increased by 28%. In the same period, the collection of taxes fell short of budget revenues. The collection of VAT especially fell short, with funds collected less than 1/ 3 of last year's collection (99 million euros collected in 2024, against 149 million euros collected in 2023, added Petrova.

Dear reader,

Our access to web content is free, because we believe in equality in information, regardless of whether someone can pay or not. Therefore, in order to continue our work, we ask for the support of our community of readers by financially supporting the Free Press. Become a member of Sloboden Pechat to help the facilities that will enable us to deliver long-term and quality information and TOGETHER let's ensure a free and independent voice that will ALWAYS BE ON THE PEOPLE'S SIDE.


Video of the day