Romania’s economy increased 3.5% last year, driven mainly by industry and agriculture, which grew 8.1% and 23.4%, respectively.
The country’s consolidated budget posted a deficit of RON900 million, or 0.14% of the gross domestic product, in the first quarter of 2014, down from 0.46% of GDP at the end of February and 0.67% of GDP in the first quarter of 2013.
Total revenue to the consolidated budget rose 3.8% on the year, to RON48.8 billion in the first quarter, equal to 7.4% of GDP, the Finance Ministry said.
Sources with the government said fist quarter revenues are lower than expected by more than RON1 billion.
Ponta said Monday morning first quarter consolidated budget data was satisfactory and culd lead to a lowering of social security contributions if sustained throughout the second quarter as well.