Romania’s budget gap widens to LEI 18.07bn in H1, below the threshold agreed with IMF

According to provisional data, the revenues estimated at the general consolidated budget amounted to 77.2 billion lei, 0.1 percent down from the same period in 2009.

The fiscal incomes rose mainly on the value added tax (VAT) segment, where incomes advanced to -3.7 percent at the end of June from -7.8 percent at the end of May, as well as on the income tax, where collections hiked to -4.8 percent in June, from -6.4 percent in May, MFP shows.

On the excise taxes segment, collections are 1.5 percent higher compared to the first six months of 2009. Also, the amounts returned by the European Commission as payments for the projects developed with European funds rose by 921 million lei.

The expenses estimated at the general consolidated budget, of 95.3 billion lei, grew 4 percent year-on-year in nominal terms. However, spendings with personnel decreased 4.5 percent and those with goods and services by 1.7 percent, according to data from MFP.

Spendings for investments, including capital expenses and transfers for development programs, totaled 11.7 billion lei, representing 12.2 percent of the whole spendings within the general consolidated budget.

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