Prima pagină » English » Romania, IMF Agree On 4.6% Of GDP Budget Deficit In ’09 – Sources

Romania, IMF Agree On 4.6% Of GDP Budget Deficit In ’09 – Sources

The International Monetary Fund delegation in Romania agreed with the Government a budget deficit of 4.6% of the gross domestic product in 2009, compared with the 2% of the GDP target included in the budget law, sources close to the talks told MEDIAFAX.
Romania, IMF Agree On 4.6% Of GDP Budget Deficit In '09 - Sources
23 mart. 2009, 20:42, English

The Romanian Government and the IMF delegation recalculated the budget revenues and expenditure for 2009 and set the deficit at 4.6% of the GDP, but the new figure is conditioned by the public salary fund freezing, the sources said. Also, if the budget revenues exceed the new forecast, they must be spent only for investments.
 
The letter of intention includes the general policies to prove the Government’s capacity to bring the budget deficit below 3% of the GDP in the next three years, as the Fund does not see a budget balancing earlier because of the current crisis, the quoted sources added.
 
Romanian authorities are currently negotiating with the IMF and the E.U. a financial package that could amount to around EUR19 billion.