The budget deficit of Romania is expected to exceed 3% of the GDP, Finance Ministry sources have told, confirming previous comments in this regard made by newly named Finance minister Florin Citu.

Ministerul Finantelor PubliceFoto: Hotnews

News agency Mediafax quoted Citu on Tuesday as saying that he was not certain Romania would come within the 3% target for the year, as a deficit of 2.66% was evaluated for the first nine months.

Ministry sources confirmed the speculation, as recent payments were made through a national governmental program for local development projects and loans were needed to cover the deficit.

A new Liberal government sworn in on Monday started work on Tuesday, replacing the Social Democratic (PSD) government which was dismissed in a censure motion last month.