Budget deficit reaches1.36 percent of GDP this May

Romania’s general consolidated budget registered a deficit of RON 7.42 billion (abut EUR1.76 billion) at the end of May. The deficit went up to 1.36 percent of GDP, higher than the 1.2 percent deficit previously announced by finance minister Gheorghe Ialomitianu. The five-month deficit was generated by revenues worth RON 70.7 billion  while expenses amounted to RON 78.17 billion.

The budget gap also increased by RON 3 million compared to the 0.8 percent reported in April.

The Romanian government agreed with the International Monetary Fund to keep the budget gap below 4.4 percent of the GDP this year.

Simona Bazavan

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