Romania’s GDP at 135 bln euro this year

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Romania's GDP will reach this year 135 bln euro, 36 pct of which will be taken up to the public budget, far less than in most European states, Minister of Economy and Finance Varujan Vosganian told a private television station.
 
'So in fiscal terms, Romania is more permissive than France, Germany or Great Britain. When I speak of 35.9 pct, I refer to money collecting, not absorption. Total revenues are equal to revenues collected in Romania plus resources absorbed from Brussels. Aggregate revenues are estimated at 39 pct, but taken separately, domestic collections stand around 36 pct. We have 5 pct in excess of the revenues projected so far,' said Vosganian.
 
'In March we issued the ordinance on improving public spending efficiency. Until March we were running a 0.9 pct state budget deficit, that is 40 pct of the all-year total. In four months, after the Ordinance's coming in effect, the deficit narrowed to 0.6 pct of the GDP. Although we are one month later, the deficit decreased and this is the effect of the introduction of efficiency indicators,' said the Minister of Economy.
 
He underscored that 'disorder' in public procurements was halted and discipline was introduced in local administration, and more rigorous mechanisms were set in place for local administration loans.
 
The Minister added that if this is a normal agricultural year, Romania's economic growth might top 6.5 pct, standing between seven and eight percent 'which means more money in the budget for investments and the possibility to narrow the budget deficit.'
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