The government accepted the annual report on the execution of the State Budget of the Republic of Croatia for 2023 on Monday, according to which budget revenues amounted to 27.4 billion euros, and expenditures to 28.1 billion euros, resulting in a general government budget deficit of 0.7 percent of GDP according to the internationally comparable ESA methodology.
Finance Minister Marko Primorac reminded that last year’s GDP grew by 3.1 percent compared to 2022, with the largest contribution to growth coming from a reduction in imports, household consumption, and government spending.
In such conditions, budget revenues amounted to 27.4 billion euros, increasing by 20.1 percent compared to 2022. Tax revenues were 15.5 billion euros, up by 19.3 percent, while revenues from pension insurance contributions increased by 15.3 percent compared to the previous year, totaling 4.4 billion euros.
Total expenditures of 28.1 billion euros were up by 20.9 percent compared to 2022.
The overall budget surplus according to national methodology amounted to 34.3 million euros, which is 0.04 percent of GDP.
According to the international ESA methodology, the general government budget deficit for 2023 amounted to 528.3 million euros or 0.7 percent of GDP.
The share of public debt in GDP at the end of 2023 was 63 percent, and there are plans to reduce this share below the Maastricht threshold of 60 percent by the end of the year, said Minister Primorac.
