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Bucharest
October 23, 2020
BUSINESS

Budget surplus of RON 1 bln in January, 0.2 pc of GDP

A budget surplus of RON 1 bln, or 0.2 per cent of GDP, was registered in January, compared to RON 800 M in the same period last year, the Finance Ministry informed through a press communiqué. Budget revenues totaled RON 16.3 bln, up by 11.3 per cent compared to the same period last year in nominal terms and up by 0.1 per cent as a share of GDP, the Finance Ministry informed. The main fiscal revenues registered significant hikes – VAT (+15.4 per cent), excises (+41.7 per cent), income tax (+17.8 per cent), social insurances contributions (+10.3 per cent). In what concerns local administrations, property tax revenues grew by 6.6 per cent compared to last year, while non-fiscal revenues grew by 33.7 per cent. The sums that the European Union reimbursed grew by 27.5 per cent compared to the same period last year. The general consolidated budget’s expenditures grew by 10.6 per cent to RON 15.3 bln in nominal terms compared to the year before. The hike was mainly generated by the growth in projects financed from EU funds (+44.1 per cent higher than in 2011) and interest rates (+42.7 per cent). Expenditures on goods and services grew by 6.2 per cent as a consequence of health fund payments for medical services and pharmaceutical drugs, while expenditures on personnel grew by 8.1 per cent. Expenditures on investments stood at RON 2.5 bln, 2.5 times higher in nominal times compared to the same period last year.

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