Romania revises 2024 public deficit target to 6.95% of GDP
Under the revised budget planning for 2024, Romania’s general government budget deficit would reach RON 123 billion (EUR 25 bln) or 6.95% of the GDP projected to grow by real 2.8%, compared to a RON 87 bln (EUR 17.5 bln, or 5.9% of GDP)…
iulian ernst · Journalist
· Updated · 1 min read
Under the revised budget planning for 2024, Romania’s general government budget deficit would reach RON 123 billion (EUR 25 bln) or 6.95% of the GDP projected to grow by real 2.8%, compared to a RON 87 bln (EUR 17.5 bln, or 5.9% of GDP) envisaged initially, according to the budget revision draft consulted by Ziarul Financiar.
Notably, the Government expects an economic growth rate significantly above the consensus expectations of under 2%, although it revised it from 3.5% under the initial budget planning inked at the end of last year.
According to the draft, the revenues and expenses of the general government budget deficit were revised upward by RON 42.6 bln and RON 60.1 bln, respectively, resulting in this nominal deficit of RON 123 bln corresponding to a deficit of 6.95% of GDP (up from 6.6% last year and 6.3% two years earlier).
(Photo source: Vlad Ispas/Dreamstime.com)
