Romania’s budget deficit stood at 0.2% of the Gross Domestic Product GDP in the first seven months of this year, compared to 1% recorded in the same period of 2013, according to data from the Ministry of Finance. In the first half of the year, the budget deficit stood at 0.5% of GDP.

The consolidated budget revenues totaled RON 120.9 billion (EUR 27.1 billion), representing 18.3% of GDP. Compared to the same period in 2013, the revenues increased by 4.1%. Expenditures were of RON 121.9 billion (EUR 27.3 billion), down 0.2% year-on-year.

Romania has agreed with international institutions to keep its consolidated budget deficit under 2.2 percent of GDP this year.

Romania ended last year with a budget deficit of 2.5 percent of GDP.

Irina Popescu, irina.popescu@romania-insider.com