January budget execution indicates small surplus

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The execution of the general consolidated budget in January was closed with a small surplus, similar to the one recorded in January last year – RON 1 bn, representing 0.17 per cent of the GDP, according to a press release issued by the Ministry of Public Finance. The general consolidated budget revenue of RON 15.98 bn, representing 2.6 per cent of the GDP, was smaller by 1.8 per cent compared to January 2012 in nominal terms and by 0.2 percentage points as share of GDP. Fiscal revenue dropped by 6.1 per cent compared to the same period last year, mainly as a result of the extension of the corporate profit tax payment term to March 25, 2013. The sums disbursed by the European Union as settlement of payments made from public resources amounted to RON 220 M, less by 140 than in January 2012.  The expenditures of the general consolidated budget totalled RON 14.94 bn, representing 2.4 per cent of the GDP. Compared to January 2012, the expenditure was reduced by 2.2 per cent in nominal terms and by 0.2 percentage points as share of GDP. The expenditures with investment, including capital expenditure, and in connection with the development programmes financed from national and international sources represented RON 1 bn.