The execution of the general consolidated budget in the first seven months of 2020 registered a deficit of 49.68 billion lei (4.7% of GDP), according to data published on Wednesday by the Ministry of Public Finance.

After the first six months of 2020, the budget recorded a deficit of 45.17 billion lei (4.17% of GDP).

Last year in the same period, the execution of the consolidated general budget indicated a deficit of 18.14 billion lei, respectively 1.76% of GDP, according to Agerpres.

According to the Ministry of Public Finance, amounts of 27.01 billion lei (2.55% of GDP) were sent in the economic environment through fiscal facilities, investments and exceptional expenditures adopted to combat the effects of the COVID-19 epidemic.

According to the quoted source, the revenues of the general consolidated budget amounted to 175.15 billion lei in the first seven months of 2020, decreasing by 2.7% compared to the level received in the corresponding period last year.

MFP mentions that, after the previous month marked a recovery of budget revenues, in July the dynamics of total revenues returned to negative territory (-8.1% year/year), as a result of the economic contraction and the expansion of fiscal facilities. In fact, the severe decline in economic activity in the second quarter (-10.5%) was reflected in the revenues for the period April – July.