Excise on fuel diminished consumption advance in April to 4.5 pc


The over-excise on fuel, enforced by the Ponta government starting April 1st, drastically limited consumption in Romania, at the very moment when it was hinting about a recovery. Consumption only advanced by 4.5 pc in April against the similar interval of last year, after the enforcing of the supplementary excise hit fuel sales. In March, the advance was almost three times higher, Ziarul Financiar reports.
After a record increase of 17.4 pc in March, fuel sales dropped by over 6 pc in April. Transporters explained that they made fuel stocks in March, in order to avoid as much as possible the excise duty enforced on April 1.
The advance of consumption was thus supported in April by the sales of food and non-food products that increased in unadjusted series by 10.6 pc and respectively 9.2 pc. Although the turnover of retail trade – the most important indicator for consumption – remained positive in the first 4 months of the year, advancing by almost 8 pc, incomes from VAT only soared by 2.7 pc.
VAT incomes should reflect the evolution of consumption, but this was not the case during last months. VAT is the second resource of the general consolidated budget, after social contributions.