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Romania: Fiscal Situation Improves
Politics ♦
Published: November 27, 2012; 14:46 ♦ (Vindobona)
“Public budget deficit amounted to only 1.2% of GDP at the end of September, which was better than we had expected.” Raiffeisen Research states.
Romania: Fiscal Situation Improves / Picture: © Vindobona.org
Based on national cash methodology (used also by IMF programs), public budget deficit for Jan-Sep amounted to only RON 7.2 bn or 1.2% of the full year’s official GDP projection. This was substantially below the targets agreed with the IMF for end-September (RON 9bn when excluding the PNDI program, or RON 9.7 bn when including the PNDI program). “In essence, the deficit in Q3 was…
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