Trends in Romanian economy in Q1 2008

Minister of Economy and Finance Varujan Vosganian told a press conference, on May 12, about the economic and budget trends in Q1 2008.
On this occasion, Vosganian said the budget surplus reached 0.14 percent of GDP in end April.
"The budget surplus in the first four months of this year stood at 617 million RON, the budget revenues at 62.15 billion RON, and the expenses at 61.15 billion RON," Vosganian said.
At the end of Q1, the general consolidated budget saw a surplus of 0.02 percent of GDP, with the positive balance at 79.2 million RON.
The total revenues collected at the general consolidated budget Jan-March 2008 amounted to 40.143 billion RON (or 9.1 percent of GDP), and the expenses to 40.064 billion RON (or 9.11 percent of GDP).
The revenues from the tax on profit, salaries, incomes and capital gains totalled 6.97 billion RON, while the taxes on property fetched revenues worth 1.33 billion RON. The revenues for VAT amounted to 10.26 billion RON, and those from excise duties to three billion RON.
The highest sums, some 12.32 billion RON (or 2.8 percent of GDP), went to social assistance.
For 2008, the budget deficit target was set at 2.7% of GDP, under the budget bill, and it was subsequently reduced to 2.3% of GDP, by budget revision.

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