LJUBLJANA (Slovenia), April 4 (SeeNews) – Slovenia budget was in deficit of 454 million euro ($501 million) in the first quarter of this year, the finance ministry said on Friday.
According to preliminary data, budget revenue came at 3.3 billion euro, while budget expenditure amounted to 3.8 billion euro, both in line with plans, the finance ministry said in a press release.
Budget expenditure in the first three months of 2025 was 7.9% higher than in the same period of last year, while budget revenue was 6.3% higher. More funds were allocated to social transfers and subsidies, and less to transfers to the health fund, compared to the first quarter of last year.
Tax revenues came in at three billion euro and are 9.1% higher than in the same period last year. Inflows from value added tax, which is the main tax source, reached 1.3 billion euro, 7.1% up on the year.
Revenue from personal income tax edged down 0.9% year-on-year in the first quarter, to 558 million euro. Revenue from excise duties amounted to 370 million euro, 1.0% less than last year.
Revenue from corporate income tax rose 26.4% 392 million euro. “We attribute this growth to improved business performance, especially in the banking sector, and the temporary increase in the corporate income tax rate from 19% to 22% following the floods in August 2023,” the ministry added.
($ = 0.906 euro)