The budget deficit has risen again

According to the Ministry of Finance, the budget deficit jumped again in January 2025. Last year it was reduced, including by cutting expenditures. But in the first months of this year, the revenue and expenditure parts of the budget again went in different directions.
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The budget deficit has risen again

In the first month of this year, state budget expenditures and non-financial assets were recorded at 7,144.8 million lei. Compared to the same period of 2024, they were higher by 27.1 per cent (1,524.9 million lei). The state budget deficit reached 1 billion 914.6 million lei, which is by 767 million lei or 66.8% more than in the same period of 2024.

The budget imbalance was financed mainly from internal and external sources, amounting to 2,545.9 million lei, as well as from changes in the cash balance (minus 379.0 million lei). The data are contained in the report of the Ministry of Finance on the execution of the national public budget in January 2025.

At the same time, the total state budget revenues amounted to 5,230.2 million lei, including total taxes and fees of 5,189.1 million lei. And revenues from projects financed from external sources amounted to 41.1 million lei. The growth of the state budget revenues in the first month of the current year compared to the last year amounted to 16.9 per cent, while the accumulated taxes and fees – 21.4 per cent. The tax revenues collected by the State Tax Service were 235.1 million lei higher (+11.2%) than in the same period last year. And the revenues collected by customs were 344 million lei lower (-12.8%).

The cash balance on the state budget accounts as of January 31, 2025 amounted to 6,481.0 million lei, of which 878.5 million lei – for projects financed from external sources.


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