In late September the general consolidated budget's revenues totalled 71.42bn RON, up 22% in nominal terms, against the level posted in the same period last year, with income tax collections seeing the most significant surge.

The amounts derived from income tax for the January - September period amounted to 6.7 billion RON, approximately 40% higher than the total posted in the corresponding period of 2005, according to data published by the Ministry of Public Finances.

Profit tax collection saw a slower increase, rising 14.62% in nominal terms in late September, amounting to 5.7 billion RON.

Revenue derived from VAT over the first nine months surged by 25.21%, to 19.7 billion RON.

Collections from excises rose by 11.3%, to 7.25 billion RON, while collections from customs duties went up 18.9%, to 1.65 billion RON.

Local budgets saw revenues amounting to 3.24 billion RON, topping the level reached in the first nine months of last year by 25.1%.

In nominal terms, social securities witnessed a 24.7% rise in income, standing at 14.38 billion RON, while the unemployment insurance budget witnessed a rise in revenue of 3.5%, to 1.59 billion RON.

Over the first eight months, the general consolidated budget registered a surplus of 5.29 billion RON, the equivalent of 1.6% of GDP, derived from income worth 68 billion RON and from expenses amounting to 62.7 billion RON.

The Government increased the budgetary deficit target twice this year, from 0.5% of GDP to 0.9% of GDP and, subsequently, to 2.5% of GDP, in order to supplement the expenses of infrastructure investments.

At the same time, the forecasts of budgetary revenues have been revised upwards. In late September the general consolidated budget's revenues totalled 71.42bn RON, up 22% in nominal terms, against the level posted in the same period last year, with income tax