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Romania budget deficit ups to 1.14% of GDP in first 11 months of 2007

de A. Comanciu
Marţi, 8 ianuarie 2008, 19:00 English | Business

Romania's budget deficit for the first 11 months of 2007 amounted to 4.43 billion Romanian Ron in November last year, accounting for 1.14% of the nation's GDP while in 2006, the deficit amounted to 0.12 of GDP, Economy Ministry data shows. According to the data, the total revenues reached 116.99 billion Romanian Ron - about 30% of GDP while spendings totaled 121.43 billion Romanian Ron, accounting for 31.15% of GDP.

Economy Minister Varujan Vosganian declared on December 20 that the general consolidated budget deficit will reach 1.4% of GDP, one point lower than the estimated level.

Moreover, he added that his Ministry managed to better control the spendings in the last months of the year, unlike the previous years when spendings were huge.

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