Romania's general budget records deficit after four months of surplus

Romania’s general budget recorded a deficit of almost EUR 173 million in the first five months of this year, namely 0.10 of the GDP. In the first four months, the budget saw a surplus of almost EUR 28 million, namely 0.02% of the GDP, but the balance turned negative in May. In the first five months of last year, the general budget recorded a surplus of EUR 1.4 billion, namely 0.89% of the GDP. The budget revenues totaled EUR 20.2 billion after the first five months of the year, namely 12% of the GDP. They went down by 2.1% over the same period last year. The revenues from the VAT collection dropped by 7.9% year-on-year whereas the revenues from the tax on profit increased by 11.3%. The revenues from the excise duty collection rose by 7.4% and the revenues from social contributions went up by 6.1%. editor@romania-insider.com