BREAKING NEWS

Here are the families that control the media and make bargains with the government in Albania, "Freedom House" gives the alarm, the presence of corruption, Berisha's continuous attempts to destabilize the country and sabotage the disturbing SPAK, the r...

Here are the families that control the media and make bargains with the
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BREAKING NEWS

Bardhyl Reso's "bombshell": Edi Rama has a file in the USA, in 2025 he will no longer be prime minister and the socialists won with votes, this is the danger that awaits him

Bardhyl Reso's "bombshell": Edi Rama has a file in the USA, in
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BREAKING NEWS

Monika Kryemadhi explodes against Ilir Meta, hints that she is becoming his "victim", the couple is in deep crisis after sinking from SPAK

Monika Kryemadhi explodes against Ilir Meta, hints that she is becoming his
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BREAKING NEWS

Here is the suspicious movement of money between Monika Kryemadhi and her mother who set SPAK in motion, the entire source of the fabulous wealth of the "Meta" family lies in the donation of 500 m2 of land and the saving of 5 million lek, their palace ...

Here is the suspicious movement of money between Monika Kryemadhi and her mother
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BREAKING NEWS

The "kamikazes" of Berisha and Meta set fire to the Municipality of Tirana, the gang leader Argita Malltezi, the son of Fahri Balli, Tedi Blushi and the "socialist" Belind Kelliçi, this is what happened in the protest against Erion Veliaj

The "kamikazes" of Berisha and Meta set fire to the Municipality of
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BREAKING NEWS

The troubles for Sali Berisha have just started, here's how all the courts closed their doors and left him in isolation, about to open other files from SPAK for murder, property robbery and theft

The troubles for Sali Berisha have just started, here's how all the courts
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BREAKING NEWS

Edi Rama ignores the decision of the Constitutional Court for Olta Xhaçka, the SP rejects the opposition's request, the socialist MP defends her husband as a strategic investor, debates and accusations between the parties

Edi Rama ignores the decision of the Constitutional Court for Olta
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BREAKING NEWS

Rama's scenario for the rehabilitation of "non-women" continues, Bardhi demands the inclusion of Sali Berisha in the PD group, the USA kicked her out the door, the prime minister puts her in through the window

Rama's scenario for the rehabilitation of "non-women" continues,
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Ekonomia

The salary increase "saves the budget", this is how much the income reached in January

The salary increase "saves the budget", this is how much the income

Income from payroll taxes is driving most of the annual revenue growth. In January 2024, budget revenues reached 54.3 billion ALL with an annual increase of 4 billion ALL or 8 percent more than January of last year. Nearly 66% of the increase came from payroll taxes such as social security, health insurance and personal income tax.

Income from social insurance reached 14.7 billion ALL in January, with an annual increase of 17.5 billion ALL. The effects of the increase in insurance income end in April of this year, as the last increase in the minimum wage was applied in April 2023, at the level of 40,000 ALL, from 34,000 ALL before.

Revenues from major taxes were also up. Revenues from VAT in January reached 18.3 billion lek with an increase of 7.8%, revenues from profit tax had the strongest growth. Receipts in this item reached 2.8 billion ALL with an annual increase of 19.3 percent. Collections also increased in the item of excise duties by 4.8 percent compared to last year.

Sources from the Ministry of Finance claim that the month of February also saw a good progress in terms of income compared to last year. This has prompted the government to apply changes to the 2024 budget as early as the second month of the year.

On the other hand, budget expenditures were much lower than revenues. During January, the government allocated as expenses from the state budget 38.5 billion ALL, causing the budget balance to result in a surplus of around 15 billion ALL in January 2024. Budget expenditures were 9.1 percent more than the fact of January 2023.

In recent years, the budget has been characterized by revenue growth fueled by higher card prices after the war in Ukraine and by rising wages, from which more taxes have been collected. In terms of spending, the government has followed a more moderate policy, concentrating them in the last two months of the year and mainly in December. Last year, almost 25 percent of the total budget was allocated in December, while 38 percent of the capital investment fund was allocated in this month.

The increase in income has helped the government to reduce the public debt more than the projections. Last year, public debt reached 59.2% of expected GDP, falling by over 7 percentage points within the year.

The International Monetary Fund and the World Bank have called on the government to increase investments in human capital as the country is in a demographic crisis, when births are falling, young people are emigrating and the workforce is rapidly aging./Monitor 

 

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