Romania May budget gap at 1.36% of the GDP

Budget revenues amounted to 70.7 billion lei, up by 10.1 percent from the ones registered in the previous year, mainly as a consequence of the increase in the receipts from the value added tax (35.6 percent), excises (28.2 percent) and capital revenues (39.8 percent).

The receipts from social security contributions were by 3.2 percent higher than in the same time span of the previous year, accounting for 40.5 percent of the annual programme and the receipts from the profit tax were by 0.2 percent higher than the ones in the same time span of the previous year.

When compared with 2010, the main gap is to be found in the receipts from the income tax, which went down by 1.25 percent. The sums of money received from the European Union for the payments that were effected grew by 17.2 percent for the same time span of the previous year.Budget expenditure amounted to 78.2 billion lei, down by 3.4 percent in nominal terms from the previous year and by 1.4 percent as share in the GDP.