In January-February 2016, Romania posted a budget surplus of RON788.1 million, or 0.1% of GDP.
Revenues to the consolidated budget amounted to RON34.9 billion, or 4.3% of GDP, and were 1.4% lower than in January-February 2016 in nominal terms.
Compared with January-February 2016, income tax collections increased 13.6%, social security contribution collections rose 11.99%, tax collections on international trade rose 18.8%, while capital income tax collections increased 76.8%.
Value added tax collections dropped 15.8% on the year in January-February, due to a cut in the tax to 20% from 24% starting January 1, 2016.
Excise duty collections fell 5.3% on the year in January-February, mainly due to the decrease for certain energy products as of January 1, 2017.
Budget expenditure stood at RON34.5 billion, 0.3% lower in nominal terms compared with January-February 2016, and 0.3 percentage points lower as share in GDP.
Staff spending grew 13.3% due to public sector wage hikes approved in the second half of 2016.
Goods and services spending was 5.1% lower than in January-February 2016, while investment spending stood at RON870.1 million, or 0.11% of GDP.