The budget deficit rose to 2.06% of the Gross Domestic Product after the first three months of this year, the negative balance amounting to 35.88 billion RON, compared to 28.99 billion RON or 1.67% of GDP after the first two months, according to the data published on Friday by the Ministry of Finance.

„Execution of the general consolidated budget in the first three months of 2024 ended with a deficit of 35.88 billion RON, respectively 2.06% of GDP, compared to the deficit of 22.75 billion RON, respectively 1.42% of the related GDP the three months of 2023,” the Ministry said.

Total revenues amounted to 132.16 billion RON in the first quarter of 2024, registering an increase of 15.8% at an annual rate, supported by receipts from current revenues, primarily insurance contributions, payroll tax and VAT, and European funds.

The expenses of the general consolidated budget in the amount of 168.04 billion RON increased in nominal terms by 22.7% compared to the same period of the previous year. Expressed as a percentage of the Gross Domestic Product, expenditures for 2024 registered an increase of 1.13 percentage points compared to the same period of 2023, from 8.53% of GDP to 9.66% of GDP.

The budget for this year is built on a deficit falling to 5% of GDP, from 5.68% of GDP in 2023.

AGERPRES