ING: Romania's budget deficit stays below target in Q1

The budget will record a deficit below the established target of 0.9% in the first quarter of the year, according to Ciprian Dascalu, the chief-economist of Romanian lender ING. Romania had a surplus of 0.1% of the GDP after the first two months of the year, reports local Economica.net. The budget had a surplus of 0.63% of the GDP in January and a deficit of EUR 873 million in February, which means a surplus of 0.1% of the GDP after January and February, Dascalu explained. The Government has targeted a deficit of 0.9% for the first quarter of the year. If the deficit in March amounts to 0.5-0.6% of the GDP, similar to February, the overall deficit in the first three months of the year will total 0.5%, remaining below the target, Dascalu added. editor@romania-insider.com