Sursa foto: Inquam Photos/Octav Ganea
The budget deficit reached 2.96% of Gross Domestic Product (GDP) after the first six months of the year, up from 2.29% in the first five months, according to data released on Tuesday by the Ministry of Finance. However, last year, in the midst of a pandemic, the deficit was 4.28% after the first half of the year.
Thus, the execution of the general consolidated budget in the first six months of 2021 ended with a deficit of 33.81 billion lei, compared to the deficit of 45.17 billion lei, registered in the same period of 2020.
This result was achieved in the context in which during January-June 2021 the investment expenses were 5.23 billion lei higher than the same period of the previous year, and the exceptional payments generated by the COVID-19 epidemic were 8.11 billion lei (13.34 billion lei, respectively 1.17% of GDP).
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Consolidated general budget revenues
The revenues in the general consolidated budget amounted to 176.38 billion lei in the first half of 2021, by 20.6% above the level collected in the same period last year. This advance was influenced by the reduced base for 2020 (mainly the period March-May – characterized mainly by lockdown), the recovery of economic indicators, but also by the partial recovery of some categories of income (insurance contributions and VAT). The most significant nominal increases were registered in the case of VAT, insurance contributions, European funds, excise duties, respectively salary and income tax.
Wage and income tax revenues totaled 14.29 billion lei in the first half of 2021, recording an increase of 16.9% (year / year), supported by the increase in pension tax revenues (+ 46.4%), the tax on dividends (+ 28.0%), respectively the Single Declaration (+ 27.5%).
At the same time, income from the salary tax increased by 11.9% – dynamics higher than the one registered by the salary fund from the economy of 7.6%, determined by the acceleration of the receipts registered in March-May in the conditions of the reduced base last year.
Expenditure of the general consolidated budget
Expenditures of the general consolidated budget in the amount of 210.19 billion lei increased in nominal terms by 9.8% compared to the same period of the previous year.
For the first six months of 2021, investment expenditures were 5.23 billion lei higher than in the same period of the previous year, and the exceptional payments generated by the COVID-19 epidemic were 8.11 billion lei.
Personnel expenses amounted to 55.71 billion lei, up 4.5% compared to the same period last year. Expressed as a share of GDP, staff expenditure represents a level of 4.9% of GDP, 0.1 percentage points lower than the same period last year. Expenditures on goods and services were 27.47 billion lei, up 8.3% compared to the same period last year.
Expenditures on social assistance were 75.25 billion lei, an increasing of 8.7% compared to the same period of the previous year. The evolution of social assistance expenditures was mainly influenced by the increase of the pension point from September 1, 2020 by 177 lei, respectively from 1,265 lei to 1,442 lei.
Expenditures for investments, which include capital expenditures, as well as those related to development programs financed from internal and external sources, amounted to 21.35 billion lei, increasing by 32.4% compared to the same period of the previous period 16.12 billion lei.
178.47 million lei have been paid from The Ministry of Internal Affairs for the purchase of products – medical emergency stocks, including thermal scanners to combat the spread of SARS-VOC-2 coronavirus infection.