Romania posted an economic growth of nearly 2 percent in 2011, above the official target of 1.5 percent, according to the Romanian Prime Minister Emil Boc. The country also managed to reach its budget deficit target of 4.4 percent last year.

“The fact that we were able to remain within the 4.4 percent budget deficit target and have a growth above the planned 1.5 percent is a proof of the Government’s seriousness in a not very optimistic European context," said Emil Boc.

The Prime Minister added that the main priorities for 2012 include maintaining jobs and investments and increased absorption of EU funds, which are essential for "maintaining the 2.1 percent economic growth forecast for 2012”. The Romanian Government will also continue the state reform this year, will pursue the fight to combat tax evasion, and will support small and medium enterprises and the business environment.

Romania’s general consolidated budget had a deficit of EUR 3.8 billion (RON 16.3 billion) in the first 11 months of 2011. The country’s deficit increased to 3 percent of the GDP at the end of November, from 2.4 percent of GDP posted at the end of October, according to the Romanian Ministry of Finance.

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

(photo source: Romanian Govt.)