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Budget Def Would Be 12%/GDP If All Ministries’ Needs Covered – Romanian Fin Min

The biggest weakness of Romania’s 2010 budget is the allotment of just 4% of the gross domestic product for investments, Finance Minister Sebastian Vladescu said Thursday, adding the budget deficit would surge to 10%-12% of the GDP if all investment needs of each ministry would be covered.
Budget Def Would Be 12%/GDP If All Ministries’ Needs Covered - Romanian Fin Min
07 ian. 2010, 12:11, English

„In order to invest at the level desired by each ministry, the budget deficit should surge to 10-12% of the GDP, which is currently unacceptable,” Vladescu said Thursday, during the debates on the budget draft in the parliamentary committees.

Vladescu said that the 4% of GDP level assigned for investments this year is a very low sum for a country with a 250,000 square kilometers area and almost 20 million inhabitants.

The 2010 budget is based on a budget deficit of 5.9% of the GDP.