2016 budget execution: 2.41pc deficit

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The execution of the 2016 general consolidated budget ended with a deficit of RON 18.3 billion, namely 2.41% of GDP, up almost by one percentage point as compared to the negative balance of 1.47% of GDP recorded in 2015.

According to the report on the macroeconomic situation for 2017 and the projection for 2018-2020, posted Monday on the Finance Ministry’s website, the consolidated budget revenues amounted to RON 223.7 billion, representing 29.5% of GDP, i.e. by 4.3% lower in nominal terms against the previous year. Domestic economy revenues (without the European Union pre and post-accession funding) were worth RON 216.9 billion (28.6% of GDP), by 0.3% higher yoy.

The expenditures of the general consolidated budget, amounting to RON 242 billion, decreased in nominal terms by 0.6% yoy and by 2.3 percentage points as share in the GDP.

Interest and subsidies also recorded increases as compared to the previous year by 4.5% and by 5.3% of GDP respectively.

Investment expenditures, including capital expenditures and those related to the development of programmes financed from internal and external sources were of RON 29.5 billion, namely 3.9% of GDP.

The arrears recorded by the main components of the general consolidated budget at the end of 2016 amounted to RON 201.83 million (0.027% of GDP).


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