Romania's Budget Posts Deficit Of 0.4%/GDP In Jan-Feb

The budget deficit stood at 0.43% of the gross domestic product, which is estimated at RON544.4 billion for this year.

In January to February, the budget revenues rose 8.3% on the year to RON27.5 billion. The increase was supported by higher revenue from the value added tax (+33%) and the excise duties (+12.9%), which was partially offset by decreases in receipts from the corporate profit tax (minus 16.7%) and the personal income tax (down 6% on the year).

The budget expenditure stood at RON29.8 billion in the first two months, down 4.4% from the year-earlier period.

At the end of January, Romania ran a budget surplus of 0.15% of the GDP.

Romania's budget gap narrowed to RON33.3 billion, or 6.5% of GDP in 2010, from 7.2% of GDP a year earlier.

For 2011, the government targets a deficit of RON24 billion, or 4.4% of GDP.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.