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9-month budget deficit – 2.2 times larger than last year

The execution of the consolidated state budget in the first nine months of 2018 reveals a deficit or RON 16.8 billion, i.e. 1.77% of the GDP, the Finance Ministry informs on Tuesday.

In the same period last year the deficit amounted to RON 6.7 billion, i.e. 0.81% of the GDP. Nominally, the budget deficit increased 2.5 times and 2.2 times as share.

The budget revenues of the consolidated state budget in 9 months amounted to RON 205 billion (21.7% of the GDP), by 13.6% higher in nominal terms against the same period last year.

VAT revenues increased by 9%, up to RON 42.4 billion.

Excise duties revenues amounted to RON 21 billion (2.2% of the GDP), by 7.9% larger than in the similar period last year.

Revenues from taxes and duties have increased by 4.2%, the ones from tax on wages and revenues by 25.3%.

The amounts from the EU for payments made were of RON 9.4 billion, by 25% higher than the ones collected last year.

The expenses of the consolidated state budget were of RON 221.7 billion, by 18.4% higher than in the same period last year.

Subsidies were higher by 6.7%, representing 0.5% of the GDP.

Interest rates were by 21.5% higher, representing 1% of the GDP.

Expenses for social assistance have increased by 12.5% against last year.

Expenditures for investments, including capital expenses and the one for development programmes funded by internal and external sources were of RON 15.2 billion, by 25.7% larger than in the same period last year.

 

 

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