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Romanian Preliminary ‘09 Budget Draft Sees Public Def At 2%-2.2% Of GDP

The preliminary 2009 budget projection aims for a budget deficit of 2% to 2.2% of the gross domestic product, or GDP, compared with last year’s 5.2% of GDP, government sources told MEDIAFAX on Monday.
Romanian Preliminary ‘09 Budget Draft Sees Public Def At 2%-2.2% Of GDP
26 ian. 2009, 16:36, English

The budget deficit target is included in the preliminary budget draft for 2009.

The finance minister, Gheorghe Pogea said recently that authorities are aiming at a budget deficit of 2% to 2.5% of the GDP, but no anti-crisis measures were taken into account in that projection.

The European Commission, or EC, forecasted in its winter prediction, released on January 19, that Romania’s budget deficit to reach 7.5% of the GDP in 2009.

Romania’s consolidated budget deficit widened after the first 11 months of 2008 to 2.94% of the gross domestic product, or GDP or 14.84 billion lei (EUR1=RON4.2634) in nominal terms, according to Finance Ministry data.