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In January, Romania spent 127 million lei more than they collectedUpdated: 26-02-2010 | Economy
In January, Romania spent from the budget 127 million lei than they collected. The budgetary deficit in January is 0.03% of the GDP ( 157 million lei) the state secretary in the ministry of finances, Gheorghe Gherghina said. According to him, the financial balance of January is a good one as during this month the profit tax and the impact of expenditure on salaries was low, as a result of the reduction of the salaries fund. The news should not surprise, as long as there is a tradition that the state budget records an excedent over the first months, after which high expenditure and reduced income induce the deficit.
Romania engaged itself to have a budgetary deficit of 5.9% of GDP after 2009 the deficit of the general consolidated budget was 36.4 billion lei, or 7.2% of the GDP under the target of the IMF within the stand-by contract, of 7.3% of the GDP.
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