The Romanian Government has approved the fiscal and budgetary strategy for 2012-2014, including the macro-economic parameters agreed with the IMF, the European Commission and World Bank, according to the Finance Minister, George Ialomiţianu. The government estimates a growth of 3.5 to 4 percent in GDP for 2012, as agreed with the international financial institutions.

The strategy for the 2012-2014 foresees in GDP a growth of 9 percent in revenues for 2012, compared to the current year, and an increase in GDP of 5 percent in costs. The budget deficit was estimated at 3 percent of GDP for 2012, 2.5 percent of GDP for 2013, and 2.2 percent of GDP for 2013.

The fiscal and budgetary strategy will be submitted to the Parliament through an emergency procedure.

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

(photo source: Sxc.hu)