November 24, 2017

Jan-May 2011 – Budget Deficit Up To 7.4 Bln Ron

According to the Ministry of Public Finances (MFP), in the first months of the year, the budget deficit represented 1.36 % of GDP. That is higher than the 1.2 % level that Finance Minister Gheorghe Ialomitianu had previously announced. The Romanian authorities agreed to the IMF not to register a budget deficit higher than 4.4 % of GDP at the end of this year. The revenues collected totaled RON 70.7 bln, being 10.1 % higher than the ones collected last year, mainly as a consequence of growing revenues from VAT (+35.6 %), excises (+28.2 %) and capital revenues (+39.8 %).

Source of the news: Nine o’clock (Read More)

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