Romania’s 8-Mo Budget Deficit At 4.4% Of GDP – Official

He said final data will be released September 25.

At the end of July, Romania’s budget deficit stood at 3.31% of the GDP.

The International Monetary Fund has agreed to allow Romania a budget deficit of 7.3% of the gross domestic product in 2009, higher than the 4.6% cap negotiated this spring, due to a deeper-than-expected economic decline.

Romania’s GDP is now projected to shrink 8%-8.5% in 2009, from the 4% economic contraction estimated in spring.

Romania secured end-March a EUR19.95 billion financial aid from the IMF, the European Union and other international institutions to cope with the deepening recession. IMF granted Romania a EUR12.95 billion two-year stand-by loan, as part of the financial package.