Romania records small budget surplus in Jan-April

BUCHAREST: Romania ran a consolidated budget surplus of 130 million lei ($32.20 million) or 0.02 percent of gross domestic product in January-April against 0.4 percent in the first quarter, the finance ministry said on Wednesday.

It said revenues amounted to 73.9 billion lei, or 9.8 percent of GDP, while spending reached 73.8 billion.

Revenues from value added tax fell by 8.8 percent on the year chiefly due to a 4 percentage points cut in the tax to 20 percent from Jan. 1.