November 25, 2017

Budget deficit of RON 4.2 bln at 3 months, in line with the IMF agreement

The Ministry of Finance informs that the budget deficit at three months topped RON 4.19 bln, equivalent to 0.67 % of the GDP, in line with the target agreed with the IMF for this interval, of RON 4.5 bln. The execution of the general consolidated budget at two months ended with a deficit of RON 2.44 bln. Budgetary incomes amounted to RON 47.04 bln (7.5 % of the GDP) at end-March and were 3 % higher in nominal terms than during the same interval of last year. As categories of inflows, VAT incomes increased by 9.5 %, while the income tax and social security contributions went up 11.5 % and 3.6 %, respectively, driven by higher salary incomes generated by the restoration of salaries in the public sector and the higher minimum wage enforced as of February 1.

Source: Nine o’clock (read more)

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