Russia will begin restricting public access to certain government items in a bid to protect the country from additional sanctions, the Russian Finance Ministry announced on Tuesday. The ministry said in a statement that it would partially reduce its budget spending information in a bid to avoid “negative effects” of Western sanctions on the Russian […]
Tag: budget
Germany: Budget Week (in time of war)
The debate on the budget started yesterday in the German parliament. After the pandemic, another difficult fiscal planning is predicted in the shadow of the war in Ukraine. The “budget week” we are going through in Berlin with the approval of the budget is expected on Friday. Today, Wednesday, Chancellor Olaf Solz took to the […]
Tax revenues increased by 1.75 billion euros in the four months
By Tasos Dasopoulos Tax revenues for the first four months were exceeded by € 1.75 billion against the budget target, with most of the increase (€ 755 million) due to VAT and immediately afterwards income tax (€ 455 million), due to the transfer of payment of part of the obligations of 2021 in 2022. However, […]
Indian government considers new $ 26 billion ‘mammoth’ package to fight inflation
The Indian government is considering spending an additional 2 trillion rupees ($ 26 billion) in fiscal year 2022/23 to soothe consumers from rising prices and fight years of high inflation, two government officials told Reuters. The new measures will be double the blow of 1 trillion. rupees that could receive government revenue from tax cuts […]
The second half is crucial for the economy
By Tasos Dasopoulos The course of the budget from June will judge the resilience of the economy for further support of businesses and households towards accuracy and at the same time the achievement of the fiscal targets of 2022. Despite the good implementation of the budget so far, with tax revenues recorded by an increase […]
Tax revenues increased by 506 million euros in April
By Tasos Dasopoulos The tax revenues of April increased by 506 million euros against the target, continuing the good course from the beginning of the year, due to the dynamics of the economy from the end of 2021. At the level of four months, the excess of tax revenues reaches 1.789 billion euros against the […]
Budget: Primary deficit at € 1.65 billion – Tax revenue increase
The primary deficit in the period January-March 2022 amounted to 1.650 billion euros, from 5.714 billion in the corresponding period of 2021, with a significant overperformance of tax revenues (+1.283 billion). In particular, as announced by the Ministry of Finance, according to the execution data of the state budget, in a modified cash base, for […]
Revenue increased by € 1.28 billion in the quarter mainly due to indirect taxes
By Tasos Dasopoulos Tax revenues reached 12.090 billion euros in the January-March quarter, up 1.283 billion euros or 11.9% from the target set in the 2022 Budget report, according to the final budget execution data. The over-execution of taxes is due to the extension of the deadline for payment of road taxes until the end […]
Tax revenue increase by 511 million or 17.5% against the target in March 2022
Revenues from taxes show a significant increase in March, according to budget execution data recently released by the Ministry of Finance. Specifically, they are increased by 511 million or 17.5% against the target, which according to Deputy Finance Minister Theodoros Skylakakis “overcompensated for the very high revenue returns which were increased by 321 million euros […]
Tax revenues increased by 511 million euros in March despite the crisis
By Tasos Dasopoulos Tax revenues increased by € 511 million against the Budget target in March despite the unfavorable international economic situation following the very good course of the economy in 2021 when the deficit was less than 1.5% of GDP making the fiscal year easier. 2022 adjustment. Tax revenue for March was € 3,439 […]