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Bucharest
October 27, 2020
BUSINESS

Budget deficit up to 1.2 pc of GDP

Budget deficit amounted, at the end of May, to 1.2 pc of the gross domestic product (GDP), on the rise compared to 0.8 pc on April 30, according to the Finance Minister, Gheorghe Ialomitianu, quoted by Mediafax. Ialomitianu made this statement before a manifestation marking the National Tax Consultant’s Day. Budget deficit slumped to RON 4.4 bln after the first four months, representing 0.8 pc of GDP, compared to 1 pc in Q1, against a budget surplus of over RON 800 M in April, backed by the reduction of capital and staff expenditure and subventions.

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