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Romania's budgetary deficit increased to 18.07 billion lei in Q1, below the target set with the IMF 

de AC
Miercuri, 28 iulie 2010, 12:51 English | Top News

Romania's general consolidated budget reached to 18.07 billion lei, representing 3.35% of GDP, below the 18.2 billion lei limit set in the IMF agreement, a press release of the Finance minister reads. According to presented data, budgetary spending was 95.3 billion lei while revenues reached 77.2 billion lei. 

According to data, estimated revenues to the general consolidated budget are by 0.1% lower than those in the similar period, last year while spending increased by 4%. The sums cashed in from VAT decreased by 3.7% while on revenue tax dropped by 4.8% and cashs from tax on profits diminished by 3%. 

Representatives of the institution reveal that non-fiscal revenues increased by 1.42 billion lei due to the revenues from dividents from companies with state capital. In the same time, spending for investments, including capital spending and transfers for development programs increased to 11.7 billion lei representing 12.2% of the total spending of the general consolidated budget. 

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