Romania's economy shrank by over 8% in the second quarter of the year, exceeding the level registered in the first three months of the year, Romania's Finance minister Gheorghe Pogea declared, quoted by Romanian news agency NewsIn.

Pogea declared that at the moment, the numbers are only estimates. For the moment, the only certainty is that the economy will shrink more than it did in the first quarter. Romania's National Statistics Institute will publish on Thursday, August 13.

The government will negotiate with IMF representatives an increase of the accepted budgetary deficit at 7% of GDP compared to a little over 4%, as initially settled.