The state budget revenues and expenditure effectively achieved in 2014 were below the budget provisions, and the Romanian state budget ended last year in a deficit of 3.2 percent of the gross domestic product (GDP), shows the draft law for the approval of the annual general account for the state budget implementation published by the Public Finances Ministry on Wednesday.
According to the document, the state budget revenues achieved in 2014 totalled 94.51 billion lei, by 3.91 billion lei (4 pct) below the approved budget provisions, accounting for 96 percent of the scheduled revenues. The state budget expenditure made last year amounted to 115.62 billion lei, by 4.1 billion lei (3.5 pct) less than the approved budget credit. Thus, the expenditure was 96.5 percent achieved.
The state budget implementation closed 2014 in 21.1 billion lei worth of deficit or 3.2 percent of GDP, the draft act says. The state budget gap is 183.5 million lei (0.9 pct) below the level of the final budget provisions.
The GDP considered for the calculations amounts to 628.59 billion lei in 2013 and to 666.64 billion lei in 2014.
According to the document, the Romanian public debt at end-December 2014 stood at 295.66 billion lei, with 280.76 billion lei of it being the governmental public debt and 14.89 billion lei the public local debt.