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Bucharest
June 24, 2021
BUSINESS

Budget deficit reaches RON 2.4 bln after first two months

The budget deficit after the first two months reached RON 2.44 bln, 0.39 pc of the Gross Domestic Product (GDP), smaller than the RON 2.7 bln or 0.46 pc of the GDP registered in the same interval of last year, according to data released by the Ministry of Public Finance (MFP). The incomes to the consolidated general budget, which amount to RON 29.28 bln, or 4.7 pc of the GDP, were 0.1 pc higher in nominal terms than a year ago. The income tax advanced by 11.9 pc year-on-year, while the profit tax diminished by RON 1.2 bln due to the fact that its payment deadline was moved from January 25 to March 25, so the money collected as income tax will be comparable at the end of Q1 2013, MFP informs.

Favourable evolutions were also registered in terms of excise duties (+18.9 pc) and insurance contributions (+2.4 pc).VAT incomes went up 2.6 pc from the same period of last year, driven by 5 pc higher collections, while refunds increased by 12 pc. The expenses from the consolidated general budget, worth RON 31.73 bln (5.1 pc of the GDP), declined in nominal terms by 0.7 pc from the same interval of 2012. Spending on investment, which includes capital expenses and those with the development programmes financed from internal and external sources, amounted to RON 2.7 bln (0.47 pc of the GDP).

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