Romania's Jan-Feb Social Insurances Budget Rev Dn 7.2% Y-Y

Romania’s social insurances budget revenues fell by 7.2% on the year in the first two months of 2009 to 7.76 billion lei (EUR1=RON4.2329) from RON8.36 billion in the same period of 2008, according to data published Wednesday on Finance Ministry's website.

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In the first two months, the budget revenues fell by 6.8% to RON26 billion compared with RON27.8 billion the same period a year earlier, while the budget expenditure rose 10.1% to RON29.3 billion from RON26.6 billion in the January-February period of 2008.

Thus, Romania’s consolidated budget posted a deficit of 0.63% of the gross domestic product, or RON3.3 billion, in the first two months of the year, compared with a 0.25% of the GDP surplus in the same period a year earlier.

The value added tax VAT revenues, which account for about a quarter of the total budget revenues, were at RON6.7 billion in the first two months, down 7.6% compared with the same period of 2008.

The profit tax receipts were of RON2 billion in the analyzed period, 13.4% lower on the year.

The revenues from income tax were at RON3.2 billion, 14.5% higher than in the first two months of 2008.

In the first two months, public investments fell 10.6% on the year to RON2 billion from RON2.22 billion in the same period of 2008.

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