The budget deficit for 9 months of the current year reached 3.04% of GDP, which is 0.71 percentage points less than for the same period in 2021.
Its value is 41.7 billion lei, which is 2.6 billion less than last year. Investment spending is almost 14% higher than in the same period of 2021, but there is still time until the end of the year. A fix is coming soon and we will have a more accurate situation. Then we will know whether the investment goal will be achieved during this time, the money will be reduced. If it is not achieved, we will fall to 5.84% of GDP.
Inflation has greatly helped the state’s revenues, even if the document does not say so.
According to the note, the revenues of the general consolidated budget for the first nine months of 2022 amounted to 331.48 billion lei, which is 22.6% higher than the level obtained for the same period last year.
Their favorable dynamics were mainly influenced by the nominal growth of revenues from VAT, non-tax revenues, additional revenues from energy carriers (other taxes on goods and services), insurance contributions and income tax.
Expenditures of the consolidated general budget in the amount of 373.18 billion lei increased in nominal terms by 18.6% compared to the same period last year. Expressed as a percentage of gross domestic product, spending in the first nine months of 2022 increased by 0.57 percentage points compared to the same period in 2021, from 26.6% of GDP to 27.2% of GDP.
Source: Hot News RO
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