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PUBLIC FINANCES

State revenues slightly ahead of last year

Temas:

Government revenues between January and September were slightly higher than the amount collected in the same period last year.

Revenue totaled $4.5 billion, which represents an increase of 0.8 percent from 2014.

Despite the increase, revenues are still lower than had been projected. Officials are also concerned that the growth in the economy, which is expected to be 6 percent this year, has not translated into higher state revenues.

Officials with the Ministry of Economy and Finance say that revenue should grow at the same pace as the economy.

Tax revenues, the main source of government income, totaled about $3.6 billion, which represents an increase of $8.6 million in relation to the previous year. But this represents a shortfall of $347 million from projections. Non-tax revenue was about $900 million, or 5.2 percent more than last year.

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