The budget deficit rose to 0.58% of the GDP in the first month of this year, compared to 0.45% of GDP in the same period last year, according to data the Finance Ministry released on Thursday.

„The execution of the consolidated general budget for January 2025 ended with a deficit of 11.01 billion lei, or 0.58% of the GDP, compared to the deficit of 7.89 billion lei, or 0.45% of the GDP for January 2024,” the document from the Finance Ministry reads.

Total revenues amounted to 46.75 billion lei in January 2025, representing a decrease of 1.4% (year-on-year), due to reduced European Union funds and some categories of current revenue, such as VAT and excise tax collections. Meanwhile, consolidated general budget expenditures totaled 57.76 billion lei, marking a nominal increase of 4.5% compared to the same period last year.

The budget for the current year is built on an economic growth forecast of 2.5% and a budget deficit of 7% of the GDP.

According to Finance Ministry data, in 2024, the budget deficit rose to 8.65% of the GDP, from 5.61% of GDP in 2023.

AGERPRES