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ASF reached a surplus of the collected revenues last year

The revenues collected by the Financial Supervisory Authority (ASF) in 2014 and published on Monday, have reached RON 165.92 million (about EUR 37.018 million), the degree of achievement compared to the approved budget being of 112 percent, according to the Annual Report.

“2014 meant the year of transformation for ASF. The report, a comprehensive and polished work, reflects in an exhaustive and analytical manner the steps taken by ASF and the non-banking financial markets last year. We have proposed that 2015 should be the year of consolidation and development. We want ASF to become one of the fundamental institutions which contributes in a sustained way to the modernisation and economic development of Romania”, Mi?u Negri?oiu (photo), ASF President, said in a press release.

The largest share in total income is held by the revenues from Financial Investment and Instruments Sector (SIIF), ie 47.26 percent, mainly due to income from the public offer launched in November by Fondul Proprietatea.

Although the income and expenditure budget for last year and rectified in July 2014 had as projection a current deficit of RON 22.649 million at year- end, budget execution outcome at December 31, 2014 was positive, respectively RON 18,288,000, generated by higher earned incomes compared to the expected level, but also by a low level of actual expenditure paid during 2014.

The current revenues related to insurance and reinsurance sector were about RON 49.283 million in 2014. Also, the total expenditure of ASF in 2014 were RON 147.631 million (about EUR 32.94 million), representing an achievement degree of 86.44 percent compared to the revised budget of 2014.

 

About Anca Bernovici