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May 17, 2022

FinMin: 2012 budget deficit to certainly meet 2.2 pct of GDP target

The whole year budgetary deficit will definitely meet the target of 2.2 per cent of GDP, agreed with the International Monetary Fund (IMF), as FinMin, Florin Georgescu, said yesterday at the end of the government meeting. He indicated that the budgetary deficit shall be thus reduced in 2012 to almost half of the one in 2011, when it accounted for 4.4 per cent of GDP. MFP official indicated that the budgetary deficit over the first six months met the target agreed with IMF. Finance Minister also specified that the macro-economic data corresponding to the first semester of the year indicate “likelihood to fit within the economic growth forecast targeting 1.5 per cent of GDP”. Revenues share in GDP are by 0.5 per cent over the initial estimation, in the first half of the year, whereas expenditures decreased by 0.3 per cent.Also, the investment (capital) expenditures advanced by 5 per cent over the first half of 2012 compared to 2011, Minister of Public Finances added. “We collected revenues over those forecast, which reflects a proper evolution of the branches contributing to GDP”, Florin Georgescu said, outlining that “investment expenditures also advanced, which is something meant to induce confidence”.

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