Romania's mid-year consolidated budget deficit increased to 1.71 percent of GDP from 1.57 percent of GDP over January-May 2022, the Finance Ministry informs.
The budget deficit decreased by 1.15 percentage points in H1 2022 compared to the same period of 2021, when it stood at 2.86 percent of GDP.
According to Finance Ministry data, H1 budget revenues totaled 216.7 billion RON, by 22.9 percent more year-over-year, a favorable evolution that is mainly the result of the advance of VAT revenues, non-tax revenues, other taxes and dues on goods and services and insurance contributions.
Spending stood at 240.2 billion RON, up 14.3 percent in nominal terms compared to the same period of the previous year.
"Expressed as a GDP percentage, expenditures over the first six months of 2022 were 0.28 percentage points down compared to the same period of 2021, from 17.78 percent of GDP to 17.50 percent of GDP," the Finance Ministry said.
Investment expenses, which include capital expenses and expenses related to development programs financed from internal and external sources, amounted to 21.01 billion RON.
There was an increase in the share of investments financed from post-accession non-reimbursable external funds to 57.02 percent of the total investment expenditures, while the share of investment expenditures from internal resources went down, the Finance Ministry said. AGERPRES
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