Romania's public deficit shrinks in Jan-Feb

Debt

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The public deficit has narrowed to RON 9.5 billion (EUR 1.9 billion) in January-February, 25% less compared to the same period last year, the Ministry of Finance announced.

The performance was nearly entirely backed by base effects after the RON 4.2 billion "injected into the economy" in the same period last year, out of which RON 2.2 billion expenditures related to the COVID-19 pandemic, the ministry said.

In January-February, the rising consumer prices (8.4% yr/yr) combined with a modest increase in retail sales (3.4%) contributed to stronger gross VAT (value-added tax) and excise collection as well. 

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