Finance Minister: Q1 budget deficit as per plan

The budget deficit in the first quarter of the year is in line with projections, Minister of Public Finance Sebastian Vladescu on Thursday told the public radio station.
‘In the agreement with the IMF we have a numeric deficit target set for the first quarter. According to preliminary calculations, with a variation of plus/minus 2 percent, we are in line with the figure agreed upon with the IMF,” said the Minister of Finance.

After the first two months of the year, Romania‘s budget deficit is 1.1 percent of GDP and budget revenues were lower than expected. In nominal terms, the budget deficit over the first two months is 5.8 billion lei, and the target established with the IMF for the first quarter is 8.25 billion lei.
Revenues in the first two months of the year were 25.2 billion lei, down three percent from the same period of the previous year, or down 0.5 percentage points of the GDP. Consolidated budget spending between January 1 – February 28, 2010 was 31 billion lei, up 5.8 percent compared to the same period of the year before.

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