Romanian Government negotiates GDP deficit with the IMF

The Government will negotiate with the International Monetary Fund (IMF) and European Commission (EC) experts, arriving today in Bucharest, a deficit of 2 to 2.1% of the GDP for 2015, reports local Ziarul Financiar. The budget deficit target set for the next year is 1.4% of GDP, which corresponds to a structural deficit of 1% of GDP, which Romania has pledged to achieve by 2015. The additional percentage of 0.6-0.7% will be used exclusively for military and co-financing payments. Prime Minister Victor Ponta, who will meet today, December 2, the joint IMF-EC mission, has asked the Ministry of Public Finance to make simulations in particular on reducing costs, in order to respect the promise of the presidential campaign that taxes will not go up in 2015. Previous to the electoral campaign, the Ministry of Finance was analysing a series of measures to increase some taxes to help balance next year's budget on the revenue side. editor@romania-insider.com