ECONOMY FINANCE&BANKING

FinMin Stefan: Romania registers buget surplus of 0.2 pct of GDP in Q1

Romania recorded a budget surplus of 0.2 percent of the GDP (Gross Domestic Product) in the first quarter of 2017, Minister of Public Finance Viorel Stefan stated in the plenary meeting of the Deputies’ Chamber.

“The budget estimations of the first quarter indicate a surplus of the general consolidated budget balance on a level of 0.2 percent of the GDP, approximately 1.5 billion lei, taking into account that the budget subsidies paid especially for supporting the agriculture producers were a billion lei higher compared to the first quarter of 2016. A very good development of the revenues from the income tax and social contributions was recorded, following a high dynamics of the wages in economy, an improvement in collections in March in the VAT and excises area, as well as the decline of expenditures with goods and services of approximately 4.5 percent compared to the same period of 2016. We will have a clearer image after 25 April,” Stefan stated.

He mentioned that the impact of the measures in the Governance Programme will be the one expected by the citizens.

“From the available information so far we can confirm that we are confident that the impact of the Governance Programme’s measures will be the one that citizens expect: higher incomes, more jobs and a high economic growth,” the Finance Minister mentioned.

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