Romania's budget deficit stays below target agreed with IMF and EC
Romania’s budget deficit reached 1.85% of GDP at the end of 2014. In December last year, the Government agreed with the International Monetary Fund (IMF) and the European Commission (EC) upon a target of 2% of GDP. The Government didn’t…
Romania Insider · Journalist
· Updated · 1 min read
Romania’s budget deficit reached 1.85% of GDP at the end of 2014. In December last year, the Government agreed with the International Monetary Fund (IMF) and the European Commission (EC) upon a target of 2% of GDP. The Government didn’t manage to spend the money, and this is bad news, said Prime Minister Victor Ponta, cited by local Mediafax. Finance Minister Darius Valcov said two weeks ago that the budget deficit reached 1.98% at the end of 2014. The initial target for the fiscal deficit in 2014 was 2.2% of GDP. The Government agreed with the IMF and the EC upon a budget deficit of 1.83% of GDP for this year. editor@romania-insider.com
