[ad_1]
In cash, Romania recorded a budget deficit of 20.85 billion lei, or 2.2% of gross domestic product. For comparison, over the same period in 2017, the fiscal deficit was 6.61 billion lei, or 0.77 percent of GDP, because the gross domestic product was lower.
Thus, in the money supply, the budget deficit at 10 months is more than three times higher in 2018 compared to 2017 and as a percentage of GDP, it is almost three times higher.
Consolidated government revenue, amounting to ROL 232.3 billion, representing 24.5% of GDP, is up 11.8% in nominal terms compared to the same period last year. ;last year. Revenues from insurance contributions (+ 37.8%) and non-tax revenues (+ 18.5%) increased compared with the previous year.
Starting in February, social security receipts were positively influenced by the new legal conditions governing the transfer of contributions from the employer's payroll to the employee, regulated by GEO no. 79/2017.
VAT revenues increased by 9% over the same period in 2017 to reach $ 47.9 billion in the first ten months of the current year. Excise revenue amounted to ROL 23.7 billion (2.5% of GDP), an increase of 7.9% over the same period of the previous year.
Property taxes increased by 4.4% over the same period in 2017.
On the revenue side, however, earnings from income tax and income tax decreased by 26.1% in the context of the 16% reduction in the income tax rate. 10% as of January 1, 2018, It also recorded a decrease of 45.5% compared to the same period of the previous year of the tax on the use of property, the authorization of use of property or carrying out activities following the application of GEO no. . 52/2017 on the reimbursement of special taxes on passenger cars, the tax on pollution on motor vehicles, the tax on motor vehicle emissions and the environmental seal on motor vehicles.
The amounts paid by the European Union for payments made amounted to ROL 11,3 billion.
However, spending increased even more than revenues, both in absolute terms and as a percentage of GDP. Expenditures in the consolidated general budget amounted to 253.2 billion lei, up 18.1% from the same period of the previous year.
Staff costs increased by 25.4% compared to the same period of the previous year, the increase being determined by the salary increases granted under framework law no. 153/2017 on the remuneration of staff paid with the help of public funds. Expenditures on goods and services increased by 10.1% over the same period of the previous year. Significant increases are recorded both in the local budgets and in the budget of the national single fund of health insurance, as well as in the budgets of public institutions financed by their own revenues and budget grants. Subsidies are 10.4% higher than the same period of the previous year, now at the same level as the percentage of gross domestic product, respectively 0.6%. Interest rates are 25.5% higher than in the same period of the previous year, representing 1.2% of GDP. In October 2018, interest payments peaked, taking into account the totalization of interest payments. linked to several government reference titles.
Social assistance expenditures increased by 12.1% over the previous year, mainly due to a 9% increase in the starting point to retirement as of July 1, 2017 , to reach 1,000 lei or 10% as of July 1st. 2018 to 1100 lei, the increase of the social allowance for pensioners from 520 to 640 lei, as well as the increase and modification of the method of setting the monthly allowance for children and of the incentive to insertion. Capital expenditures, including capital expenditures, as well as those related to development programs financed from internal and external sources, amounted to 20.6 billion lei, an increase of 40.2 per cent compared to the same period last year.
Source link
