At the end of February the budget had a deficit of RON 2.7 bln, representing 0.44 per cent of GDP, following hikes in revenues from VAT, excises and taxes, and hikes when it comes to expenditures on projects financed from EU funds, on goods and services and on investments, the Finance Ministry shows in a press communiqué. At the end of February revenues totaled RON 29.3 bln, while expenditures totaled RON 32 bln. Revenues grew by 6.6 per cent year-on-year in nominal terms and by 0.1 per cent as a share of GDP. In real terms, fiscal revenues grew by 12.7 per cent compared to the same month last year. Of those, significant hikes were registered in the case of revenues from VAT (+9.4 per cent), excises (+9.9 per cent) and income tax (+25.8 per cent). Insurance contributions totaled RON 8.6 bln, up by 10.5 per cent compared to the same period last year. The sums reimbursed by the European Union grew by 31.3 per cent compared to the same period last year. Budget expenditures totaled RON 32 bln, growing by 7.3 per cent year-on-year in nominal terms and remaining stable at 5.2 per cent of GDP. Expenditures on investments that include capital expenditures, as well as those on projects financed from internal and external sources, stood at RON 4.5 bln, growing 1.6 times in nominal terms compared to the same period the year before.
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