Romania’s budget deficit was almost 4% (3.97% of GDP), i.e. 62.8 billion lei. Note that 4.4% is set in the 2023 budget and it is clear that it will not be achieved.

According to the Ministry of Finance, total revenues amounted to 418.85 billion lei in the first ten months of the year, increasing by 10.6% (year/year).

“Their dynamics were mainly supported by the evolution of income from salary and income tax, insurance contributions, European funds and income tax. VAT receipts recorded a more moderate positive trend, which is explained both by the slowdown of the relevant macroeconomic base and the higher level of VAT refunds,” the institution notes.

The expenses of the general consolidated budget in the amount of 481.66 billion lei increased in nominal terms by 13.1% compared to the same period last year.

“Expressed as a percentage of gross domestic product, spending in the first ten months of 2023 registered an increase of 0.2 percentage points compared to the same period in 2022, from 30.2% of GDP to 30.4% of GDP,” according to the cited data . source.

Personnel expenses amounted to 108.05 billion lei, which is 10.8% more than in the same period last year.

Interest expenses amounted to 28.13 billion lei, which is 3.72 billion lei more compared to the same period of the previous year, respectively by 15.2% compared to the same period of the previous year.

See the full report of the Ministry of Finance on the implementation of the budget for 10 months