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Romanian PM Says Floods Caused Damages Of Hundreds Of Million Euros

Damages caused by floods in Romania over the past three weeks rise to hundreds of millions of euros, according to data sent to the Government by local authorities, Prime Minister Emil Boc said Friday.
Romanian PM Says Floods Caused Damages Of Hundreds Of Million Euros
16 iul. 2010, 13:49, English

He said local authorities have sent over 90% of damage assessments and floods continue to ravage a few counties.

„We have over 90% of damage assessments (…) Damages are of hundreds of millions of euros,” Boc said.

Sources close to the matter told MEDIAFAX damages caused by floods so far rise to about EUR400 million and a final assessment will likely be available next week.

Asked whether the Government will require the International Monetary Fund to agree on a new deficit target following the floods, Boc said a decision will be made after all assessments are completed.

Earlier this month, Transport Minister Radu Berceanu said Romania might ask the IMF to allow a wider budget gap than the agreed 6.8% of GDP, citing force majeure following the floods that affected the country.