The government targeted a budget gap of 9.1%.
It said RON46.31 billion, or 4.45% of GDP, represented support measures to counter the effects of the pandemic on the economy and Covid-related exceptional spending.
Revenues to the consolidated budget amounted to RON322.52 billion in 2020, 0.4% higher compared with 2019.
Income tax collections amounted to RON24.33 billion, 4.9% higher on the year.
Social security contributions amounted to RON112.25 billion, up just 0.7% on the year due to tax deferrals.
Profit tax collections amounted to RON15.99 billion, down 9.8% compared with 2019.
Value-added tax collections totaled RON60.82 billion, down 7% on the year, as the government’s VAT refunds grew 14.5% during the same period. In December alone, however, VAT collections grew 16% on the year, the data showed.
Excise duty collections amounted to RON30.72 billion, down 2.4% on the year.
Romania received RON33.56 billion from the European Union in 2020, up 32.4% on the year.
Budget spending in 2020 amounted to RON424.43 billion, 14.8% higher in nominal terms compared with 2019. Romania’s expenses accounted for 40.8% of GDP in 2020 compared with 34.9% of GDP in 2019.
The bulk of expenses were related to the coronavirus crisis, covering healthcare expenses and economic support measures but the government also raised pensions by 14% starting September.
Staff spending grew 7.5% on the year, to RON109.98 billion.
Goods and services spending grew 6.9% in 2020, to RON57.05 billion.
Social welfare spending grew 20.8%, to RON138.55 billion, due to the pension hike, raised child allowances and furlough payments.
Romania spent RON8.14 billion on subsidies in 2020, mainly in agriculture and transport.
Investment spending, which includes capital expenditure and development programs financed from local and external sources, amounted to RON53.2 billion, RON9.5 billion more than in 2019.