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Romanian Govt To Revise 2011 Budget In Early August

Romania's Government will conduct this year's first budget adjustment in early August, with priority granted to allotting additional resources for investment programs, especially those run by the Ministry of Transports, Prime Minister Emil Boc said Friday.
Romanian Govt To Revise 2011 Budget In Early August
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29 iul. 2011, 19:01, English

The prime minister said that the ministries spent EUR800 million more in the first six months of 2011 than in the same period of 2010.

People close to the matter told MEDIAFAX in mid-July that the Government will revise the budget after the IMF’s evaluation mission. The funds will be redistributed according to the ministries’ needs and investment record in the first half of the year.

Romania’s consolidated budget posted a deficit of 11.3 billion lei (EUR2.66 billion) in the first six months, equal to 2.07% of the gross domestic product, below the RON12.6 billion deficit target agreed with the International Monetary Fund.

Romania pledged to lower the budget deficit to 4.4% of GDP in 2011, from 6.5% of GDP a year earlier.

(EUR1=RON4.2403)