The state coffers are expected to be fuller in 2023

Forecasts by the Ministry of Finance show that state revenues will increase next year by 760 million euros.

According to the Ministry of Finance's Report on Economic Developments 2022 and Prospects 2023-2025, which was made public while the debate on the passing of the state budget begins, it is expected that the revenues for the state coffers will be greater in 2023 than in 2022.

Based on the Report, the revenues of the General Government in 2023 are predicted to show an increase of 6,9% and reach 11,7 billion euros compared to 11 billion euros that reached 2022.

This increase is mainly due to the expected further improvement in economic activity, the increase in investment and employment, resulting in an increase in production and import tax collections, which is expected to reach 9%.

Also, the cost of measures to deal with inflationary pressures which is in the range of 89 million euros in 2022 will potentially not be there next year something that was calculated in the previous year in the form of reduced revenues.

Income and property tax collections are expected to grow by 6% in 2023, as a result of the expected continued improvement in the labor market and business profitability, the Report says.

It is also noted that social contributions will show an increase of 6,1%.

Additional revenue is expected to come from the Recovery and Resilience Plan as inflows under the Plan are projected to increase by 9,5% in 2023 compared to 2022.

Source: economytoday