Budget revenues in the first half of the year 14 billion, and expenditures 15.1 billion euros

Total revenues of the state budget in the first half of 2024 amounted to 14 billion euros, while total expenditures were 15.1 billion euros, reported Deputy Prime Minister and Minister of Finance Marko Primorac.

Presenting the proposal for the semi-annual report on the execution of the state budget for 2024, which the Government accepted and sent to parliamentary procedure, Primorac reported that total revenues of the state budget in the first half of the year were achieved in the amount of 14 billion euros, which constitutes 49.2 percent of the annual plan, and represents a year-on-year increase of 2.6 percent.

At the same time, tax revenues increased by 10.3 percent compared to the same period last year, amounting to 8.1 billion euros, which represents 50.3 percent of the annual plan. There are also revenues from contributions for pension insurance amounting to 2.4 billion euros, with a year-on-year increase of 13.9 percent, while they stand at 51.5 percent of the annual plan, noted Primorac.

Regarding total expenditures of the state budget, they amounted to 15.1 billion euros in the first six months of this year, which constitutes 46.4 percent of planned expenditures, with these expenditures increasing compared to the same period of the previous year by two billion euros or 15.3 percent.

Deficit of 0.8 percent of GDP

Taking everything into account, in the first half of this year, the general budget recorded a deficit of 710 million euros or 0.8 percent of GDP. The deficit of the state budget amounted to 1.1 billion euros or 1.3 percent of GDP, while off-budget users of the state budget recorded a surplus of 71 million euros or 0.1 percent of GDP, and local and regional self-government units, as well as county road administrations, recorded a surplus of 307 million euros or 0.4 percent of GDP, reported Primorac.

He added that the semi-annual report was prepared according to national methodology.

From a macroeconomic perspective, the minister noted that the Croatian economy continued to achieve growth rates that are among the highest in the euro area, with a year-on-year increase in real GDP in the first half of this year amounting to 3.6 percent.

Looking at individual components on the expenditure side, the largest contribution to the increase in real GDP in the first half of the year came from household consumption, which increased by six percent year-on-year, along with a growth in gross investment in fixed capital of 11.9 percent.