STATE BUDGET REVENUES GREW 22%, EXPENDITURES - 11%

Revenues to the state budget grew by 2.38 billion lei (22%) over H12017 against the equivalent period of 2016 and accounted for 15,721 million lei (US$849.8 million) as of the beginning of July.

According to the Ministry of Finance (MoF) data, the growth is due to increase in main revenues by 2,895 million lei (22.7%) - to 15,627 million, while revenues from projects, financed from abroad, fell by almost one-half - to 94.2 million from 159.4 million lei.

Over one-half of revenues (9,393 million lei) came from the Customs Service, whose deductions grew 20.2%. Revenues, administrated by the Tax Service grew 22.5% - to 6,933 million lei. The structure of revenues is led by the VAT - 7,686 million lei, tax on income - 2,892 million lei (+19.9%) and excise taxes - 2,734 million (+36.9%). With all this, the MoF returned to economic agents 1,256 million lei in the form of VAT and excise taxes in January-June.

State budget expenditures grew by 10.6% over a year, accounting for almost 16,668 million (US$900.9 million) as of the beginning of June. Almost one-fourth (3.78 billion) of state budget expenditures went to social protection. Expenditures to education grew 309.9 million - to 4.4 billion lei. For healthcare, the state budget spent 1,658 million lei - 246.3 million lei more than a year ago.

State budget deficit exceeded 946.5 billion lei, which was repaid both at the expense of internal and external sources. A year ago, it was equal to 2.18 billion lei. Remnants of funds on state budget accounts grew 362.1 million year to date, accounting for 3.66 billion as of the beginning of June, 972.1 million lei of which - on projects, financed from external sources.