April 27 (SeeNews) - Romania’s consolidated budget in January - March showed a deficit equivalent to 1.19% of the gross domestic product (GDP) projected for 2022, against a deficit of 1.24% of GDP the previous year, the finance ministry said on Wednesday.
The three-month consolidated budget deficit amounted to 15.7 billion lei ($3.348 billion/3.172 billion euro), the finance ministry said in a statement published on its website.
Revenue in the January-March period rose by an annual 21.3% to 104.06 billion lei, while spending increased by 19.2% year-on-year, to a total of 119.75 billion lei.
A total 8.39 billion lei were reimbursed or granted by the EU, a 67.4% year-on-year increase.
Investments between January and March totalled at 8.41 billion lei, a 4.3% increase on the year.
For 2022, the finance ministry projects a cash deficit equivalent to 5.84% of GDP. The deficit under the European System of Accounts (ESA) standards is set at 6.24% of GDP.
Romania closed 2021 with a consolidated budget deficit of 6.72%, compared to a deficit of 9.61% of GDP in 2020.
(1 euro = 4.94 Romanian lei)