Romania 9-Mo Budget Deficit At 5% Of GDP – Fin Min

„We estimate the budget will be below the agreed target,” Pogea said.

At the end of August, the public deficit stood at 4.5% of the GDP.

The IMF allowed Romania run a budget deficit of 7.3% of the GDP this year, nearly double from the initial 4.6% cap agreed in the spring, on a worse-than-expected economic decline.

Romania, which secured a EUR20 billion IMF-led financial package back in the spring, committed to a series of fiscal and economic measures meant to reduce spending and lower the budget deficit to below 6% of the GDP next year.