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Romania State Budget Gap Seen Down To RON35B In ‘10 – Bill

Romania’s state budget deficit is envisaged at 6.66% of the gross domestic product in 2010, or 35.02 billion lei (EUR1-RON4.2119), compared with a 7.89% of GDP gap predicted for this year.
Romania State Budget Gap Seen Down To RON35B In ‘10 – Bill
21 dec. 2009, 15:06, English

„The state budget is based on revenue amounting to RON66.65 billion and expenditure of RON101.67 billion, reflecting a deficit of RON35.02 billion,” according to the 2010 draft budget obtained by MEDIAFAX.

Under the bill, total revenue to the state budget is expected to increase by RON9.95 billion lei, or 1.9% of GDP, in 2010, while expenditure is seen growing by RON3.73 billion, or 0.71% of GDP.

Romania’s consolidated budget envisages overall revenue of RON166.7 billion in 2010, while total expenditure is seen at RON197.9 billion, reflecting a budget deficit projected at 5.9% of GDP, Finance Ministry’s officials said in October.

Romania’s GDP is estimated at RON525.1 billion in 2010, up 0.5% in real terms compared with RON497.3 billion predicted for this year. The ministry’s projections are based on an average exchange rate of the Romanian leu seen at 4.2 units per euro and an annual inflation rate of 3.7%.

Romania estimated this year’s revenue to the consolidated budget will total RON157.2 billion, or 31.6% of the GDP, while expenditure is seen at RON193.7 billion, or 38.9% of the GDP.

Revenue to the state budget is seen at RON56.7 billion in 2009, while total expenditure is expected to reach RON97.94 billion.