Romania needs to cover revenue deficit of up to EUR 3.8 bln next year

The government will have to cover a revenue deficit of EUR 3.3-3.8 billion next year, that will come both from reducing the budget deficit and the legislative measures adopted in recent months, according to the Fiscal Council President Ionut Dumitru. “The government will have a problem to cover this gap. The authorities will either negotiate new targets with the International Monetary Fund (IMF), or will resort to other measures such as tax increases next year to cover the budget gap," said Dumitru, cited by local Mediafax. New investments have also decreased by 55%. Dumitru confirmed the hypothesis launched two weeks ago by the Governor of National Bank of Romania Mugur Isarescu that the fight against corruption has slowed down investment, showing that public authorities do not start new investments for fear of the National Anticorruption Directorate (DNA). editor@romania-insider.com