Romania's general consolidated budgetary deficit reached 2.1% of GDP after the first five months of the year and preliminary data for June reveals that the IMF agreed deficit threshold will be met, Romanian Finance ministry state secretary Gheorghe Gherghina declared, quoted by Romanian news agency NewsIn.
According to the IMF agreement, Romania's budgetary deficit should not exceed 2.73% of GDP by the end of the second quarter of the year. Gherghina declared that official data will be released on Wednesday. He said that after a preliminary analysis of the data in June 2009, Romania will meet the deficit threshold imposed by the IMF.
Romania agreed with the IMF to reach certain budgetary deficit target in each quarter and by the end of December, it should not exceed 24.36 billion lei, representing 4.58% of GDP. For the third quarter, the set target is 3.5% of GDP, namely 18.61 billion lei.
After the first four months of the year, Romania's budgetary deficit reached 9.36 billion lei, representing 1.8% of GDP, official data of the Finance ministry shows.