Romania’s Budget Posts RON829M Surplus In April

The budget deficit in January-April represented 0.8% of the gross domestic product, compared with 1% of GDP at the end of March.

The budget revenue rose 10.3% on the year to RON58 billion in January to April, fueled by tax revenue increases, mainly from the value added tax (+35.6%) and excise duties (+24.3%). Corporate tax revenue rose 0.9%, but personal income tax proceeds were down 2.5% from January-April 2010.

In the analyzed period, budget expenditure stood at RON62.4 billion, down 3.6% on the year.

Romania’s budget gap narrowed to RON33.3 million, 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. (EUR1=RON4.129)