Romania’s government budget turned to surplus at the end of September, as spending took a dive in the first nine months, mainly due to lower allocations for public investments.
After the first three quarters, the budget recorded a surplus of 0.06% of the projected gross domestic product for this year.
In the first nine months, the consolidated budget registered revenue of 155.4 billion lei (EUR35.1 billion), up 5.5% on the year in nominal terms. Public spending went down 0.3% compared with January-September 2013, to RON155 billion.
The revenue increase was due to higher revenue from the sale of emission certificates and property taxes, the ministry said. The sales tax, the excise duties and the corporate tax also brought more money than last year.
For the whole year, Romania aims to keep the deficit below 2.2% of GDP.