General consolidated budget deficit - 0.04pct of GDP in January

The execution of the general consolidated budget ended with a 460,000 million lei deficit (0.04 per cent of the GDP), in January, according to the data sent on Tuesday by the Ministry of Public Finance (MFP).

In January 2019, a surplus of 700 million lei was recorded, 0.07 per cent of the GDP, respectively.

"Compared with the surplus recorded in the same month last year, the deficit in January 2020 is mainly due to the increase in VAT reimbursements by 1 billion lei (1.72 billion in January 2020, compared with 0.72 billion lei in January 2019), namely the increase in the spending on investments with approximately 0.82 billion lei against the same period last year," explained the MFP representatives.