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Budget surplus, down in February to RON 2.3 bn

The consolidated budget surplus in February stood at RON 2.3 billion, representing 0.33 percent of GDP, compared to a deficit of RON 3.1 billion, respectively minus 0.46 percent of GDP, recorded on the same date of 2014, Ministry of Public Finances data show.

Consolidated budget revenues totaled RON 33.8 billion in the first two months, representing 4.8 percent of GDP. Revenues were 10.9 percent higher in nominal terms over the same period of last year.

Increases were recorded over the same period of the previous year at VAT revenues (+ 19.5 percent), excise (+ 14.1 percent), income taxes (+ 11.4 percent), profit tax (7, 9 percent) and non-fiscal revenues (+ 23.9 percent).

Revenues from social security contributions fell by 4.5 percent, influenced by the reduction by 5 percentage points of employer contributions.

Expenses for investments, including capital expenditures and those related to the development programs financed from internal and external sources, amounted RON 2 billion, 0.3 percent of GDP, similar to that achieved at the same period last year.

The consolidated budget surplus in January was of RON 3.95 billion, representing 0.56 percent of GDP, two and a half times higher against January 2014, with revenues of RON 18.4 billion, the highest increases being recorded for non-fiscal incomes and profit tax. In January 2014, the budget had a surplus of RON 1.5 billion, representing 0.22 percent share of GDP.




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