Romania To Rein In Yearend Spending Frenzy-PM

 “The Finance Minister and I talked about the need to keep a tight leash on the budget deficit. I urged ministries to draw better spending plans to avoid major budget expenditure in the last two-three months of the year,” said Tariceanu.

Romania‘s consolidated state budget posted a deficit of 2.4% of gross domestic product in 2007, after running surpluses in the first ten months of the year, Vosganian said mid-January.

“Had local administrations lowered their December expenses, today’s deficit might have been 1.4% of the gross domestic product,” said the minister.

Vosganian said that budget spending tripled in December compared to the other months due to a lack of rules to regulate local budget expenditures.