Draft budget 2019: 5.5 pct economic growth, 2.8 pct annual average inflation, 2.55 pct cash deficit

The state budget for 2019 is built on a 1.02 billion RON gross domestic product representing a 5.5pct economic growth against 2018, a 2.8pct annual average inflation and an estimated 2.55pct budget deficit of the GDP (cash) and a 2.57pct of the GDP (ESA), according to data released on Thursday night by the Public Finance Ministry (MFP).

The consolidated general budget revenues projected for 2019 is estimated to 341.4 billion RON, respectively 33.4pct of the GDP, Agerpres reads. According to the authorities’ estimates, the highest revenues are forecast for the social insurance contributions – 11.5pct, the VAT – 6.8pct, excise – 3pct, pay and income tax – 2.3oct of the GDP.

The spending of the consolidated general budget for 2019 is estimated to 367.5 billion RON, which means 35.9pct of the GDP. The largest shares in the GDP are covered by the social care – estimated to 109.8 billion RON (10.7pct of the GDP, respectively) (they park at the same share as in 2018) and the staff expenditure see 102.5 billion RON (10pct of the GDP).