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

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.