Romania's budget surplus, down to 0.02% of the GDP end-April

Romania’s general budget recorded a surplus of RON 130 million (EUR 28.8 million) in the first four months of the year, namely 0.02% of the GDP, down from EUR 1.3 billion, or 0.84% of the GDP in the same period of 2015. Budget revenues amounted to some EUR 16.4 billion, namely 9.8% of the GDP, down 2.8% year-on-year in nominal terms. Tax revenues collected by the Tax Agency ANAF totaled EUR 14.8 million between January and April this year, up 1% compared to the same period in 2015. Revenues from the VAT collection dropped by 8% year-on-year, as the VAT rate went down from 24% to 20% in January this year. Revenues from the tax on profit went up by 12% whereas income from social security contributions rose by 5.5%. Meanwhile, revenues from payroll and income tax went up by 3.5%, whereas revenues from the excise duty tax increased by 2.7% year-on-year. editor@romania-insider.com