Budget revenues increase by 20%

Revenues of the general consolidated budget went up 20% in the first six months of the year, against the same period of last year. The main public budget divisions reached 13.18 billion euros in the first six months, data from the Finance Ministry show. Revenues of the state budget went up by almost 22% in the first six months of the year, being sustained by an increase of almost 35% in the income and salary tax, but also by the collection of the VAT tax, which increased by 26.5%. Revenue collection to the state budget accounted for 49% of the annual collection programme set up through the Budget Law adopted last autumn. Overall, VAT accounted for over 43% of state budget revenues in the first six months, i.e. 3.55 billion euros out of 8.23 billion euros. The increase in VAT collection was generated by the high pace of consumption growth, which increased revenues of merchants, as well as the state’s revenues.