The general consolidated budget deficit increased to 2.4% of the Gross Domestic Product after the first eight months of this year, from 1.94% of the GDP in the first seven months, according to the data published on Monday by the Ministry of Finance, Agerpres reads.
Compared to the similar period last year, when the budget balance accounted for 3.3% of GDP, the budget deficit declined between January and August.
„The execution of the general consolidated budget in the first eight months of 2022 ended with a deficit of 32.98 billion RON, down from the deficit of 39.36 billion RON 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 eight months of 2022 compared to the same period of 2021, from 3.33% of GDP to 2.40% of GDP,” states the Ministry of Finance.
The revenues of the consolidated general budget totaled 293.85 billion RON in the first eight months of 2022, 22% above the level collected in the same period last year, and expenditures totaled 326.83 billion RON, up 16.7% in nominal terms compared to the same period of the previous year.
The deficit target for the current year is 5.8% of GDP.