Budget surplus in the first month of 2016 – 0.63 pc of GDP

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The general consolidated budget ended the first month of this year with a surplus of RON 4.7 billion, namely 0.63 percent of GDP, compared to RON 3.95 billion, namely 0.56 percent of GDP in the same month of 2015, according to Ministry of Finance data on Thursday.

Consolidated budget revenues of RON 20.4 billion, representing 2.7 percent of GDP, was 11.1 percent higher in nominal terms compared to the same period last year. There have been significant increases over the same period of the previous year at the revenues from corporate income tax (+ 48 percent), excise (19.2 percent), VAT (+ 17 percent) and social security contributions (+ 11.1 percent).

Consolidated general government expenditures in the amount of RON 15.6 billion, increased in nominal terms by 8.7 percent compared to the same period of previous year and by 1 percentage point as share in GDP.

Investment expenditures, including capital expenditures and those related to development programs financed from internal and external sources, stood to RON 686.9 million, 0.1 percent of GDP, a level similar yoy (RON 682.6 million).

The implementation of the general consolidated budget concluded in 2015 with a deficit of 1.47 percent of GDP, following a surplus of RON 5.3 billion (0.76 percent of GDP) at the end of November

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