Romanian Government Adopts 2019 Budget, Targets Deficit at 2.55% of GDP

Romania's government on Friday adopted the 2019 state budget, built on an economic growth projection of 5.5%, which critics said is overly optimistic, and targeting a deficit of 2.55% of gross domestic product.

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Finance minister Eugen Teodorovici said the gross domestic product is estimated at RON1.022 billion.

Consolidated budget revenues are projected at RON341.4 billion, or 33.4% of GDP, and expenses are seen at RON367.5 billion, or 35.9% of GDP.

Investment spending is seen at RON47.2 billion in 2019, or 4.62% of GDP.

Romania's general consolidated budget posted a deficit of RON27.3 billion in 2018, or 2.88% of gross domestic product, below the government's target of 2.97% of GDP and the EU limit of 3%, finance ministry data showed last week.

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