0.92 pc of GDP budgetary surplus after 8 months

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The consolidated general budget execution at the end of the first eight months of 2015 ended with a surplus of RON 6.5 billion, namely 0.92% of GDP against a deficit of RON 1.6 billion (0.24% of GDP) in the same period of 2014, the Ministry of Public Finance (MFP) informs.
The revenues of the consolidated general budget, amounting to RON 150 billion, representing 21.4% of GDP were by 9.7% higher in nominal terms as compared to the same period last year, while its share in GDP increasing by 0.9 percentage points.
According to the MFP, increases were recorded against the same period of the previous year in VAT collection (15%), income tax (13.5%), profit tax (11%), non-tax revenues (18.5%) and excise duties (8.2%).
Social insurance contributions collection decreased by only 1.5% against the previous year, influenced by the reduction by 5 percentage points of employers’ contribution to the state, but also by the increase of the contribution paid to the private pension funds (Pillar II ) by 0.5 percentage points in 2015 against 2014.
As compared to the same period in 2014, revenues in the segment of local administration increased in terms of property taxes by 3%, taxes on use of goods by 6.2% and non-tax revenues by 2%.
However, the consolidated budget expenditures, amounting to RON 143.6 billion, increased in nominal terms by 3.8% as compared to the same period of the previous year, but decreased by 0.3 percentage points as weight in the GDP.
Investment expenditures, including capital expenditures and the ones related to the development programmes financed from internal and external sources, were of RON 15.1 billion, 2.2% of GDP respectively in nominal terms, by 7.4% higher against the same period last year.

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