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Romania Public Debt Rises To 34% Of GDP In April

Romania’s public debt rose to 34.07% of the gross domestic product in April from 30.06% of the GDP a month earlier, Finance Ministry data showed Tuesday.
Romania Public Debt Rises To 34% Of GDP In April
13 iul. 2010, 13:45, English

End-April, the public debt stood at 173.9 billion lei (EUR1=RON4.2580), up from RON165.07 billion the previous month.

Government public debt was 93.85% of the total debt in the January-April period, while local authorities’ debt accounted for 6.15%.

For April data, the public debt-to-GDP ratio was calculated using an estimated GDP of RON510.4 billion for this year. The end-March figures were calculated using an estimated GDP of RON538.9 billion.

Romanian authorities revised their economic growth forecast for 2010 following weaker than expected GDP figures for the first quarter. The economy is now expected to slightly contract this year, from a previously envisaged growth of 1.3%.