Prima pagină » English » Romania’s 1Q Budget Deficit At 1.56% Of GDP – Fin Min

Romania’s 1Q Budget Deficit At 1.56% Of GDP – Fin Min

Romanian consolidated budget posted after the first three months of the year a deficit of 8.29 billion lei (EUR1=RON4.1263), or 1.56% of the gross domestic product, Finance Minister Gheorghe Pogea told a news conference Tuesday.
Romania's 1Q Budget Deficit At 1.56% Of GDP - Fin Min
14 apr. 2009, 12:53, English

The consolidated budget revenues fell 6.2% on the year in the first quarter, while the budget expenses rose 14.2% on the year in the analyzed period, Pogea also said.

Romania’s Government revised last week the 2009 budget to include the measures agreed with the International Monetary Fund.

Thus, the deficit was revised to 4.6% of the GDP from prior 2% of the GDP. The GDP forecast for 2009 was also revised down to RON531 billion, from prior estimated RON579 billion.

Romania agreed two weeks ago with the IMF, the European Union and other international institutions a EUR19.95 billion financial package, supported by a EUR12.95 billion IMF loan under a two-year stand-by arrangement.