Budget deficit at 0.24 percent after 5 months

Newsroom 26/06/2014 | 09:44

Romania’s consolidated budget deficit narrowed to 0.24 percent of gross domestic product at the end of May against a 0.28 percent shortfall in the first four months, finance ministry data showed on Wednesday.

At the same time last year, the consolidate budget recorded a 1.04 percent deficit,

At the end of may 2014, the Finance ministry recorded a 0.45 percent surplus, compared to a 0.27 percent primary surplus in the similar period of last year.

Revenue came in at ROn 84.1 billion, representing 12.7 percent of GDP, a 3.7 percent increase year on year. Romania had to pay 16 percent less to the EU, and other expenses came in at ROn 85.65 billion, a 2.3 percent decrease ytear on year.

For 2014, authorities agreed with the IMF to try and maintain the budgetary deficit at 2.2 percent GDP. Romania ended last year with a 2.5 percent deficit.