Romania Jan-May Budget Gap Widens To 3.2% Of GDP – Sources

The gap is RON4.4 billion wider compared with a deficit of RON12.1 billion reported in April, the mentioned sources told MEDIAFAX.

They said preliminary data indicate total revenue of RON64.47 billion in January-May, while expenditure reached RON81.01 billion. The figures are based on an estimated GDP of RON510.45 billion in 2010.

Romania’s government recently announced a series of austerity measures to slash public spending and bring the budget deficit down to 6.8% of GDP this year, from 7.4% of GDP in 2009.