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Budget deficit of 0.44 percent of GDP after two months

The consolidated general budget reported a 2.7 billion lei deficit representing 0.44 percent of the GDP according to operative data of the Ministry of Public Finance released on Monday. The budget revenues, amounting to 29.3 billion lei, were 6.6 percent higher on a year-on-year basis in nominal terms and by 0.1 as percentage of the GDP.

The tax revenues reported a 12.7 percent increase in nominal terms compared to the previous year. There were significant increases in the case of the VAT (9.4 percent), the tax excises (9.9 percent) and the income tax (25.8 percent).

The amounts reimbursed by the European Union in the account of the payments made out of the public resources went up by 31.3 percent as compared to the same period of the previous year.

The expenses of the consolidated general budget in amount of 32 billion lei went up by 7.3 percent in nominal terms as compared to the previous year but remained at the same level as percentage of the GDP, namely 5.2 percent.

The expenses on goods and services went up by 10.2 percent as well following the payments out of the health reserve for medical services and pharmaceutical drugs, as well as the 3 percent personnel expenses made in comparison with the same period of the previous year.

The expenses on investments which include the capital expenses as well as those with the development programmes funded by local and external sources were 4.5 billion lei, as they went up 1.6 times in nominal terms on a year-over-year basis.