Romania: General budget deficit for 2020 at 6.7% of GDP

Romania: General budget deficit for 2020 at 6.7% of GDP

The general budget deficit for this year is 6.7% of GDP, after the first fiscal adjustment this year, as measures taken to boost the economy account for 3% of GDP, Megali said yesterday. Wednesday, Finance Minister Florin Citu in a press release. According to him, the budget deficit increased by 31.9 billion lei.

The finance minister also announced that estimates by the National Strategy and Forecasting Commission show a 1.9% shrinking of the economy this year and a nominal GDP of less than 1.082 billion lei. Under these conditions, the consolidated general budget deficit ranges from 40.5 billion lei to 72.5 billion lei, which means an estimated deficit at 6.7% of GDP this year. These are estimates we are making now, with the data we have. The deficit in the consolidated general budget increased by 31.9 billion lei”, Florin Citu said./ibna