IMF pushes for 0.9% budget deficit, Romania's Govt. wants 1.4%

The Romanian Government will not accept a budget deficit of less than 1.4% in the negotiations with the International Monetary Fund (IMF), the European Commission and the World Bank delegations, according to Prime Minister Victor Ponta, reports local Agerpres. Romanian authorities have proposed a 1.4% budget deficit, while IMF representatives demand a deficit of 0.9% of GDP for 2015, according to representatives of the Ministry of Public Finance. The difference between the IMF request and the 1.4% deficit of GDP would be approximately EUR 790 million- EUR 900 million, which should be cut off from public investments, said Darius Valcov, Minister-delegate for Budget. For 2014, the Romanian authorities and the International Monetary Fund agreed on a 2.2% budget deficit. editor@romania-insider.com