The budget surplus was 19% higher than in January last year, when Romania’s budget posted a surplus of RON3.59 billion, or 0.56% of GDP.
Revenues to the consolidated budget amounted to RON20.4 billion, or 2.7% of GDP, 11.1% higher than in January 2015, the data showed.
Profit tax collections increased 48%, excise duty collection grew 19.2%, value-added tax collections increased 17%, and social security contribution collections increased 11.1%.
Budget expenditure stood at RON15.6 billion, up 8.7% compared with January 2015, as staff spending grew 26% due to public sector wage hikes approved in the second half of 2015.
Goods and services spending was 8.4% lower compared with January 2015, while investment spending amounted to RON686.9 million, or 0.1% of GDP, slightly higher than the RON682.6 million level reached in January 2015.
Romania’s government targets a budget deficit of 2.8% this year, within the European Union limit of 3%, and considers an economic growth projection of 4.1% for the budget plan.