Gheorghe Pogea: Government intends to cut budget deficit to 5.9 percent of GDP

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The draft budget for 2010 will be built on a deficit of 5.9 percent of GDP, said, on Thursday, Minister of Public Finance Gheorghe Pogea, who was present at the debate of the censure motion on the uniform salary law in the budget sector.

„I have proposed a budget deficit of 5.9 percent of GDP and now we are waiting for the proposals of the ministries for the budget expenses, ” Pogea said.

He added that currently, the Ministry of Finance is working on the drawing up of the process of decentralization, as well as on the presentation of the local budgets in the consolidated state budget through two sections: Operation and Development, presenting the sources for each administrative unit.
The Government will also present a variant of the multi-annual state budget for 2010, Pogea added.

Romania agreed, in the accord with the International Monetary Fund, IMF, to drop the budget deficit from 7.3 percent in 2009 to under six percent in 2010, and in 2011, the deficit would be of under three percent of GDP.
The deficit of the general consolidated budget, after the first eight months of the current year, is estimated at 4.4 percent of GDP.

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