The execution of the general consolidated budget in the first ten months of 2016 ended with a declining deficit worth 1.3 billion lei, namely 0.17 percent of the Gross Domestic Product (GDP), as against the 9.04 billion lei surplus, namely 1.28 percent of the GDP registered in the similar period of 2015.
At the end of the first nine months of this year, Romania’s budget deficit stood at 3.7 billion lei (0.49 percent of the GDP).
According to the data the Public Finance Ministry (MFP) released on Friday, the revenues to the general consolidated budget, amounting to 187.6 billion lei, representing 24.7 percent of the GDP, were 2.1 percent lower in nominal terms compared with the same period of last year, because of the cut in some fees, especially the VAT.
