Romaniaĺs Jan-Apr budget gap widens to 12.1 billion lei

The four-month consolidated budget recorded a 12.1 billion lei deficit, almost 4 billion lei above the 8.22 billion lei gap registered at the end of March, said the Ministry of Finance.
Revenues to general budget fell 1.2% year-on-year to 52.6 billion lei.

Revenues from the collection of VAT dropped 9.2%, revenues from income tax came down 7.3%, from profit tax down 4.6%, and from social security contributions down 3.6%.

Revenues from excises dropped by 71.9 million lei from the same period of last year, while the non-fiscal revenues increased by 652.6 million lei.

Budget expenditures totaled 64.7 billion lei, 3.4% above year-ago levels, but dropped 0.7% as share in the GDP.

Public sector wages dropped 6.1% from the same period of last year.

Expenditures on goods and services increased by 6.7% year-on-year following 13.5% growth in local budgets.

Social assistance expenditures rose 14.5% year-on-year, the biggest increase (+111%) being observed in unemployment insurances and local administration budgets (+40.8%).

Expenses on interests increased by 22.7% compared to the same period of last year, on yawning budget deficits over the past years.

Investment expenses, that include capital expenditures and transfers for development programs totaled 8.02 billion lei, up 4.1% from Jan-Apr 2009 period, accounting for 12.4% of consolidated budget.

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