Romania's budget revenues RON 8.2 bln below target in January-May

Romania's tax collection agency ANAF collected in the first five months about RON 8.2 billion (EUR 1.6 billion) less than planned for the period, Profit.ro reported.

The figure is somewhat better than indicated by the former head of the institution, Lucian Heiuș, when he resigned on May 29. At that time, Heiuș said revenues fell RON 8.9 bln below the target in the first five months of the year.

The Finance Ministry is still seeking measures to reduce the budget expenditures by RON 20 bln (EUR 4 bln) to accommodate the negative expected deviation from revenues in the entire year. The measures could be announced after the government's "rotation" is clarified.

The Ministry of Finance has so far announced the budget execution only for the first four months of the year. Thus, the budget deficit reached RON 27.35 bln, 1.72% of GDP, in January-April, compared to RON 16.33 bln, 1.16% of GDP, in the same period last year.

(Photo source: Ungureanu Vadim/Dreamstime.com)