We spend more than we make. Over the first seven months of the year, Romania has managed to spend, daily, 6.3 million Euros more than it has collected to the state budget. The situation is not at all rosy, because the better part of the returns are actually money from European funds. In terms of investments, the money collected to the state budget goes to the construction of highways.
The Romanian State had, over the first seven months of this year, expenses nearly 5% higher than the amounts it has collected to the budget, writes Gândul.info. This means that Romania has spent, on average, 129 million Euros every day, although it cashed in only 123 million Euros .
Every day, the Romanian state spends nearly 30 million Euros for the payment of pensions, while for the wages payment of the 1,1 million state employees, the state takes out of its budget 28.9 million Euros daily. The state budget covers the spending of 20 million Euros for goods and services and 11 million Euros to finance hospitals and compensated medicines.
Regarding revenues, much of the money comes from European funds: nearly 123 million Euros daily. The state collects another 30 million Euros in VAT, plus 13 million Euros from taxes on salaries and more than 8 million Euros come from profit tax.
Over the last seven months, the state has invested every day almost four million Euros in road infrastructure in Romania and more than three million Euros for the investment projects of municipalities and county councils. Calculations were made based on the data published by the Ministry of Finance, taking into account an exchange rate of 4.45 lei / euro.
How much Romania spends every day
€30,3 million - pensions
€28,9 million – state employees
€11,7 million - health
How much Romania cashes in every day
€123 million – European Funds
€30 million - VAT
€13,9 million– income and salary tax
€8,1 million– profit tax