Jan – Nov budget deficit up to 1.56 pct of GDP

The budget deficit over the first 11 months of 2013 stood at 1.56 pct of GDP, having advanced from the 1.21 pct of GDP registered at the end of October, shows data released by the Ministry of Public Finance (MFP).
The budget deficit target for this year is 2.5 pct of GDP, a figure upwardly revised by 0.2 percentage points at the latest budget revision and agreed upon with the International Monetary Fund (IMF).
‘According to operational data, the execution of the aggregate consolidated budget over the interval January 1 – November 30, 2013 ended with a deficit of RON 9.8 bn, specifically 1.56 pct of GDP, a level that keeps within the parameters agreed upon with our international partners and confirms the fiscal consolidation policy. The primary balance for the same period is positive (+ 0.1 pct of GDP), keeping within the limits required by a prudent and sustainable budgetary policy,’ MFP specifies. (AGERPRES)

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