Whereas total revenue increased by 23% in the first ten months of 2022, it only increased by 22% in the first eleven months.
The biggest slowdown was recorded in VAT collection, where revenue went from 29% growth for ten months to 18% growth for eleven months.
Spending growth, however, remained unchanged at 19%.
“The general consolidated budget revenue stood at RON416 billion in the first eleven months of 2022, 21.8% higher than in the year-ago period. Its trend was largely influenced by the rise in non-fiscal revenue, VAT revenue, insurance contributions, additional energy-related revenue (other taxes on goods and services) and EU funds,” the Finance Ministry said.
The government collected only 18% more in VAT in January-November, while inflation stood at 16%.
Total spending stood at RON474 billion, an increase of 19%.
Investment spending amounted to RON56 billion both self-funded and using EU funds, an increase of 26% on the year-ago period.
(English version by Loredana Fratila-Cristescu)