Fin Min: Budget surplus 0.2pc of GDP in Q1

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Romania has recorded a budget surplus of 0.2% of GDP in Q1 this year, Finance Minister Viorel Ştefan told the Chamber of Deputies on Monday.

“The budget estimates for the first quarter a general consolidated budget surplus at 0.2% of GDP, about RON 1.5 billion, given that subsidies were paid from the budget to support farmers by RON 1 billion more than in the first quarter of 2016. There is a very positive development in revenues from income tax and in social contributions, as a result of the fast payroll increase, of the improved earnings in March in terms of VAT and excise duties and in reducing expenditures on goods and services by about 4.5% against the same period last year. We’ll have a clearer picture after April 25,” the finance minister said.

He said that the impact of the measures of the governing programme will be one that citizens expect.

“From the information available hitherto we can say we are confident that the impact of the government programme measures will be one that citizens expect: higher revenues, more jobs and high economic growth,” Viorel Stefan said.

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