PM Grindeanu: Romania running budget surplus of over 1.64 billion lei in Q1

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Premier Sorin Grindeanu announced on Thursday that Romania runs a budget surplus of over 1.64 billion lei, specifically 0.2 pct of GDP, in Q1.

"This is a bad day for all austerity apostles. (...) I received the latest data from the Finance Ministry and not only. (...) For the first three months of the year we have a budget surplus. Specifically, according to the latest estimations of the Q1 budget execution, we'll have a surplus of over 1.64 bln lei, that is 0.2 pct of GDP. Total revenues to the general budget will be almost by almost 4 billion lei higher than in the first quarter of 2016, which means an increase of 7.2 pct," Grindeanu said at the beginning of the Government meeting, thus brushing off recent criticism about the government's fiscal policy.

According to the Premier, VAT collections were by 2.5 pct higher this February compared to February 2016 and by 8.9 percent higher in March 2017 compared to March last year.

"A number of 62,000 new jobs have been created in the first months of the year, and Romania's unemployment rate reached a 27-year record low. (...) These are a few arguments that show us and give us confidence that we will achieve the goals we have all committed to. These are things that should please us all, I'd say, regardless of some persons' particular desires," added Grindeanu.AGERPRES(RO — author: Madalina Cerban, editor: Cristina Tatu; EN — author: Simona Klodnischi, editor: Maria Voican; online editor: Maria Voican)

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