Minister Misa: Romania will keep the budget deficit under 3 pct in 2017

Romania will keep the budget deficit under 3 percent, as planned through the Stability and Growth Pact, while the economic growth of 5.6 percent estimated for 2017 is based both on consumption and the increase in volume of the industrial production, according to the minister of finance, Ionut Misa,

He made this statements during a meeting with the vice-president of the European Commission, Valdis Dombrovskis, the commissioner responsible for Euro currency and financial stability.

According to a release of the Ministry of Finance in the context of the informal meeting of ECOFIN Council, organized by the Estonian Presidency during September 15-16, Misa had a bilateral meeting with Valdis Dombrovskis, and the discussions referred to the Romanian macroeconomic situation and the future of the Economic and Monetary Union.

According to Romania’s Prognosis Commission, the GDP will reach RON 837.1 billion this year, compared with RON 816.5 billion estimated in the spring. At the same time, the gross GDP/capita is estimated to reach EUR 9,392 in 2017. It will increase in 2018 to EUR 10,243, to EUR 11,140 in 2019, EUR 12,063 in 2020 and EUR 12,994 in 2021.

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The individual consumption of households will increase in 2017 by 7.9 percent and the one of public administrations by 2 percent.