Thursday, May 5, 2011

Budget revenues improve in April, shortfall for first-quarter

Budget revenues improved in April, according to figures released by the Finance Ministry, although first-quarter revenues presented a more than 1 billion euros shortfall.
 
Revenues posted a 3 percent increase after negative percentages recorded in the preceding months.
 
However, the revenues in the first quarter of 2011 still presented a shortfall of more than 1 billion euros against the budget target.
 
The improvement in revenue collection, according to sources, is attributed to a stepping up of pressure and daily checks on the performance of Tax Bureau offices by the ministry.
 
 
 
 
 ANA-MPA