Sun, Nov 22 2009

Romania’s eight-month budget deficit at 4.5 per cent of GDP

Sat, Sep 26 2009 10:16 CET 805 Views
Romania’s eight-month budget deficit at 4.5 per cent of GDP

Romanian workers attend the opening the Ford factory in Craiova, 230km east of Bucharest, September 8 2009. Ford Motor Co launched production at its Romanian plant in the southwestern city of Craiova, seeking to sell their award-winning Transit Connect van on Eastern European markets, officials said.

Romania’s consolidated budget deficit rose one percentage point in August, to 4.5 per cent of the gross domestic product, the finance ministry said in Bucharest on September 25 2009,

In nominal terms, the country's consolidated budget deficit rose to 22.3 billion lei (EUR 1 = RON 4.2046) in the first eight months, Romanian news agency Mediafax said, quoted by Bulgarian news agency Focus.
.
At the end of July 2009, Romania's budget deficit was 3.31 per cent of GDP.

In January-August, total revenue to the general consolidated budget was 103.2 billion lei, while overall expenditure reached 125.59 billion lei in January-August.

The country's consolidated budget deficit end-August took into account the revised GDP forecast for 2009 to 497.3 billion lei.

Romanian finance ministry state secretary Gheorghe Gherghina told Mediafax mid-September, citing preliminary data, that Romania's consolidated budget deficit rose one percentage point in August, to 4.4 per cent of GDP.
 
 

Write comment

Name:Comment:

Generate new code
Send your comment
IMF advice

IMF applauds renewed fiscal discipline, recommends shift to ‘new growth pattern’

Boiling point

Traian Basescu is far from guaranteed a second term as president of Romania

Romania will axe 8500 public servants

Of the 224 government departments, agencies and other associations, directly or indirectly controlled and subjected to the central government, only 107 will remain in operation.

EIB increases support for SME projects in Romania by 140 million euro

Loan to Bancpost Romania will finance small and medium-scale projects promoted by SMEs in various sectors of industry, agriculture, tourism and services, while loan to EFG Leasing Romania will support smaller projects in Romania in the areas of industry, services including tourism, agriculture, health, energy and environmental protection.

The EC on Romania

‘New momentum’ on reforms, but Romania needs to finish revising its criminal and civil codes, the European Commission says

EC gives Romania until 2011 to fix budget deficit

Romania was one of the four countries running excessive budget deficits, the European Commission has said, giving the country a deadline to 2011 to bring it in line with European Union norms.

More in this category

Macedonia offers olive branch to Bulgaria

Under pressure from Brussels on the name issue dispute with Greece, Skopje seeks to re-build relationship with with Sofia.

Kosovo’s governing coalition breaks up – reports

Parties that governed together in Pristina fall out because of their battle in Kosovo’s local government elections.

Regional fallout from Macedonia name dispute

Media reports say that the EU will pressure Athens and Skopje to come up with a solution to the Macedonia name dispute by December 7, or Brussels will take a cooler approach to Macedonia’s EU hopes; while a row breaks out in Belgrade after Serbia’s foreign minister takes sides in the dispute.

A special purpose base

Russia’s planned humanitarian base in Serbia could hold deeper strategic interests

Renewed bank re-assurances for Romania despite stalled bailout-mandated reforms

The IMF has withdrawn its mission, which was due to assess Romania's compliance with the terms of the bailout, and now expects Romania to miss the fiscal deficit target set by the bailout agreement.