Romanian Fin Min Says ’09 Budget Def Around 2% Of GDP

The European Commission recommended Romania to tighten its budget policies as it estimates the country’s budget deficit is likely to reach 3.7% at the end 2009, well above the 3% limit established in the Maastricht Treaty.

The Romanian consolidated state budget ran a small surplus of 0.2% of gross domestic product in January-April this year, compared with 0.34% of GDP in the same period last year.

For 2008, the Romanian government is targeting a budget deficit of 2.3 of GDP. The European Union has warned the country it may launch an excessive deficit procedure against Romania as the 2008 deficit is likely to exceed the E.U. limit of 3% of GDP.

Bolojan: Întărirea flancului estic NATO, de la Marea Baltică la Marea Neagră, o prioritate

23:08

Ilie Bolojan anunță că România nu va dubla cheltuielile de apărare

23:06