Romania ends first 11 months with 0.04% budget deficit

Romania’s budget deficit stood at 0.04% of the Gross Domestic Product (GDP) in the first eleven months of 2014, compared to 1.53% recorded in the same period of 2013, according to data from the Romanian Ministry of Finance. The consolidated budget revenues totaled RON 195 billion (some EUR 44 billion) in this period, representing 28.9% of the GDP. Compared to the same period the previous year, the revenues increased by 6.8%. The expenditures amounted to RON 195.3 billion (over EUR 44 billion), up 1.5% year-on-year in nominal terms, but down 1.1% as share in the GDP. Romania ended last year with a budget deficit of 2.5% of GDP. Romanian Government reaches deal with “troika” on budget deficit for next year. Irina Popescu, irina.popescu@romania-insider.com