Budget deficit, below target agreed with IMF; revenues up while unemployment expenses grow

Romania's budget deficit in the first nine months of the year was of EUR 5.4 billion in the first nine months of the year, below the target set by the International Monetary Funds, which was of EUR 6.5 billion. Romania cashed in 3.6 percent higher revenues to the consolidated budget, reaching EUR 28 billion. Revenues from VAT went up by 7.3 percent, while the revenues from excises went up by 7.9 percent. Revenues from the income tax were 2.9 percent lower, while the revenues from social insurance contributions, 5.1 percent below the level registered in the first nine months of last year, according to the Finance Ministry. Expenses reached EUR 33.4 billion, up 1.5 percent compared to the first nine months of last year, mainly due to increasing expenses with unemployment benefits, as well as the payment of state's debt to hospital and medical suppliers. Investment expenses, included in this amount, reached EUR 4.5 billion, covering 3.8 percent of the GDP. editor@romania-insider.com