The general consolidated budget posted 819 million lei (193million euro) in surplus in January compared with a surplus of 15million lei in the same time of 2010 because of the increase in theVAT receipts and of the lower spending related to the wages of thepublic sector employees.
"Some surplus was expected because January is usually a month whennot that many payments are made. The surplus in January is notnecessarily a positive surprise, but it is a good sign nonetheless,considering the improvement of the budget execution structurethrough a decline in personnel and goods and services spending,"comments Nicolae Chidesciuc, ING Bank's chief economist.
General consolidated budget revenues reached 14.6 billion lei inJanuary, up 3.6% compared with the same month of 2010 because ofthe higher VAT receipts. Spending went down 2.1% to 13.8 billionlei, with the steepest decline registered by wage expenses forpublic sector employees in mid last year.
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