Budget revenues improve in April, shortfall for Q1

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.

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