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Romania to meet the budget deficit target for 2017, MFP assures, in reply to Eurostat data

Budget deficit has doubled in June to 1.61pc of GDP, 3 times higher than last year

The consolidated state budget deficit increased almost twice (83%) in June this year, reaching RON 14.97 billion, against RON 8.14 billion in the first five months of the year, according to the figures released Thursday evening by the Ministry of Public Finance (MFP).

Compared to the similar period last year, the budget deficit is more than three times higher.

“According to the operative data, the execution of the general consolidated budget for the first six months of 2018 concluded with a deficit of RON 14.97 billion, i.e. 1.61% of GDP, compared to the planned deficit target for this period of 2.21% of GDP,” the ministry informs.

After the first five months of the year, the negative balance was 0.88% of GDP. On the other hand, after the first six months of 2017, the execution of the general consolidated budget concluded with a deficit of RON 6.3 billion, i.e. 0.77% of GDP.

During January-June 2018, as compared to the same period in 2017, the revenues of the consolidated general budget increased by 12.6% in nominal terms to RON 132.04 billion and accounted for 14.2% of GDP.

The amounts from the European Union for payments made amounted to RON 6.9 billion, by 22.8% higher than those collected in 2017 during the same period.

The expenditures of the general consolidated budget amounted to RON 147.01 billion, by 19% higher than in the same period of the previous year, given the advance by 24.4% of the personnel expenses.

Expenditures on investments, including capital expenditures, as well as on development of the programmes financed from domestic and external sources, amounted to RON 9.1 billion, i.e. 1.5 times higher against the same period last year.

 

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