Romania ranks 4th in EU for lowest budget deficit

Romania's budget deficit was last year 1.5% of GDP, amounting to EUR 2.2 billion. It went down compared to 2013 when it reached 2.2% of GDP, namely EUR 3.1 billion. It also decreased in comparison to 2012, when the budget deficit stood at 2.9% of GDP, amounting to EUR 3.9 billion, according to the EU’ statistical office Eurostat. The budget deficit in the EU reached last year 2.9% of GDP, after in 2013, it amounted to 3.2% of GDP. In the euro area, the deficit decreased from 2.9% of GDP in 2013 to 2.4% of GDP in 2014. In 2014, the lowest budget deficit as a percentage of the GDP was recorded in Lithuania (0.7%), Latvia (1.4% of GDP) and Romania (1.5%). 12 EU Member States recorded last year a budget deficit above 3% of GDP, including Cyprus (8.8%) or Spain (5.8%). editor@romania-insider.com