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Romanian Pres: EC’s Forecast On ‘09 Budget Def Is Accurate If All ‘08 Laws Enforced

European Commission’s estimation on Romania’s 2009 budget deficit of 7.5% of the gross domestic product is accurate if all of the 2008-adopted laws will be applied, Romanian president Traian Basescu said Tuesday.
Romanian Pres: EC’s Forecast On ‘09 Budget Def Is Accurate If All ‘08 Laws Enforced
20 ian. 2009, 19:13, English

The estimation is confirmed also by Romanian authorities’ evaluations, as ministries requirements at the first budget analysis were pushing the gap towards 9% of the GDP, Basescu added.
 
“So, the figure is accurate,” he said.
 
EC published on Monday an interim forecast on EU’s economy which stated Romania’s budget deficit will skyrocket to 7.5% of the GDP in 2009, after an estimated 5.25% of the GDP in 2008.
 
But the head of state also said that, at EU Economy and Finance Ministers gathering ECOFIN, Romania engaged itself to cut the public deficit to 2% of the GDP.
 
The difference between the two figures is “an extraordinary effort of the Government” in cutting budget spending, Basescu said.