In January 2016, Romania posted a budget surplus of RON4.7 billion, or 0.62% of GDP.
Revenues to the consolidated budget amounted to RON19.2 billion, or 2.4% of GDP, and were 5.7% lower than in January 2016 in nominal terms.
Compared with January 2016, income tax collections increased 24.9%, tax collections on international trade rose 10.1%, capital income tax collections increased 63.9%, while social security contribution collections rose 9.4%.
Value added tax collections dropped 24.8% on the year in January, due to a cut in the tax to 20% from 24% starting January 1, 2016.
Budget expenditure stood at RON16.2 billion, 3.5% higher in nominal terms compared with January 2016, and 0.1 percentage points lower as share in GDP.
Staff spending grew 8.2% due to public sector wage hikes approved in the second half of 2016.
Goods and services spending was 7.4% lower than in January 2016, while investment spending stood at RON305.8 million, or 0.04% of GDP.