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The general consolidated budget deficit increased to 1.94% of the Gross Domestic Product (GDP) after the first seven months of this year, from 1.71% of the GDP in the first semester of 2022, according to the data with the Finance Ministry (MF).
The budget deficit decreased 0.93 percentage points in the period January - July 2022, compared to the same period last year, when a deficit of 2.87% of the GDP was recorded.
"The execution of the general consolidated budget in the first seven months of 2022 ended with a deficit of 26.69 billion lei, down from the deficit of 33.97 billion lei recorded in the same period of 2021. Expressed as a percentage of the Gross Domestic Product, the budget deficit registered a decrease of 0.93 percentage points in the first seven months of 2022 compared to the same period of 2021, from 2.87% of GDP to 1.94% of GDP," the Finance Ministry informs, told Agerpres.
The evolution is explained by the increase in total revenues by 0.97 percentage points of the GDP - mainly influenced by collections from other taxes on goods and services, non-fiscal revenues, profit tax and VAT, while budget expenditures registered a quasi-stagnation.
