Romania Govt OKs First Budget Revision Of 2010

The government estimates budget revenue will reach 165.4 billion lei (EUR1=RON4.2385) in 2010, down from RON168.85 billion initially projected.

Budget expenditure is expected to reach some RON200 billion this year, lower by RON714 million than previously estimated.

The government will direct additional funds mostly to healthcare and pensions sectors, while other sectors, such as education, defense or justice have their budgets cut.

Romanian authorities forecast an economic contraction of 1.7% to 1.9% in 2010, down from a growth of 1.3% initially estimated.

The country’s budget deficit is expected to reach 6.8% of the gross domestic product at year-end.