September 23, 2018

At the end of Q1 2012, Romanian deficit totaled EUR 778 mln

According to data from the Ministry of Public Finance, at the end of the first quarter (Q1) of 2012 the deficit totaled EUR 778 million, in line with the IMF target which recommends Romania to lower the cash deficit below 2 % of GDP this year. Revenue to the consolidated budget rose in nominal terms by 9.9 % in Q1 of 2012 against Q1 2011, totaling EUR 10.4 billion. Meanwhile, expenses were up 4.9 % to EUR 11.2 billion, due to an increase of 54.7 % in EU funded projects and 17.9 % in interest payments. Moreover, goods and services expenditure rose by 4.6 % in Q1 due to payments for health services and pharmaceuticals. Investment expenditure which includes capital expenses and financing of programs funded from internal and external sources rose by 43.2 % in Q1 to EUR 1.6 billion.

Source: () Fortunately it was to an educator who was willing to take you under their wing and change your life

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