Romanian Govt To Revise Budget Wednesday – Fin Min

The budget deficit will be left unchanged at 2.3%, but the gross domestic product (GDP) will be around RON500B, Vosganian explained.

In July, the Government approved the second budget revision of this year, which stated that the public deficit would grow by RON842M, but would stay at 2.3% of GDP, due to higher-than-expected GDP at year-end. At the same time, the Government hiked its GDP forecast to RON475 billion, from RON440 billion.

Romania reported an economic growth of 8.8% in the first half of the year, driven by 9.3% growth in the second quarter, following a good agricultural year.

The Romanian budget deficit was 0.64% of gross domestic product in the first seven months of 2008, finance ministry data showed, while in the first half of the year, the budget deficit stood at 1.18% of GDP.