General government budget gap slightly narrows to almost 1.8% of GDP in Jan-Jul
- Backed by usual surplus in July, when some half-year taxes are due- Yet, July surplus drops by 40% y/y, Jan-Jul gap widens by 52% to more than RON 18bn
- Revenue growth in July eases, remains fuelled by social and health contributions, VAT collection growth is modest
- Expenditure rises faster, salaries and pension hikes preserve its strong upward trend
- Capital spending keeps rising noticeably in July, following some absorption improvement in June
- Fiscal target (2.75% of GDP gap) is difficult to meet without adjustment measure, those announced with budget revision are not enough
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