budget spending

The International Monetary Fund and the Romanian Finance Ministry agreed on measures to reduce the public expenditure by 2.5 percentage points of the gross domestic product next year, in order to reach a budget deficit target of 5.9% from the GDP, the fund said Thursday.

Romanian President Traian Basescu on Thursday said he does not encourage reducing budget spending at present, although this would be the easiest solution, economically speaking.

Romanian Prime Minister Emil Boc urged the Chamber of Deputies and Senate Monday evening to lower spending in their budgets for this year, citing the need for "solidarity” in the context of financial difficulties.