Prima pagină » English » Romanian Govt OKs 2nd Budget Revision In ’08

Romanian Govt OKs 2nd Budget Revision In ’08

The Romanian government Wednesday approved the second budget deficit revision this year, giving more funds to Transportation, Economy, Defense and Environment Ministries.
Romanian Govt OKs 2nd Budget Revision In ’08
16 iul. 2008, 13:09, English

On Tuesday, government sources said the general consolidated budget deficit will be increased in Wednesday’s revision by 842 million lei ($373.5 million), due to a higher-than-expected gross domestic product at the end of the year.

Economy and Finance Minister Varujan Vosganian said Tuesday that the general consolidated budget posted a deficit of RON4.9 billion, or 1.12% of GDP.

In March this year, the government lowered the budget deficit limit to 2.3% of gross domestic product, from 2.7%, to keep it in line with European Union requirements.

The five-month general consolidated budget saw a deficit of 0.39% of GDP, compared with a slight surplus of 0.2% of GDP at the end of April.