ECONOMY FINANCE&BANKING

Finance Ministry: Budget deficit sees 8.3 billion lei, i. e. 0.73 pct of GDP in first two months of 2020

The consolidated general budget execution on the two months of 2020 ended with a 8.3 billion lei deficit, id est 0.73 pct of the gross domestic product, on Friday informs the Public Finance Ministry.

(1 euro = 4.8332 lei)

In the similar period of 2019, the consolidated general budget execution parked at 5.2 billion lei, id est 0.51 pct of the GDP.

“Compared to the deficit recorded in the same period of the last year, this year’s first two months’ deficit could be explained mainly by the increase of the VAT refunding by 0.73 billion lei (3.22 billion lei on 29 February 2020, against 2.49 billion lei on 28 February 2019), respectively the increase of the investment spending by approximately 1.63 billion lei against the same period of 2019, as well as by the increase of the national transitory support in the vegetable and zootechnical sector worth 1.29 billion lei,” the ministry says.

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