IMF Sees Romania's Structural Deficit At 0.1% Of GDP In 2012
Romania's structural deficit will drop from 2.8% of the gross domestic product this year, to 0.1% of the GDP in 2012, thus respecting the 0.5% limit established in the latest European summit, according to Jeffrey Franks, the head of the International Monetary Fund's delegation to Romania.
Local authorities and international institutions are considering a budget deficit of 4.4% of the GDP for this year and 1.9% of the GDP for next year.
The IMF official added Romania’s economy is not growing at full potential, which explains why the structural deficit is lower than the budget deficit. The latest official forecasts say Romania’s economy will grow by 1.7% this year and some 2% in 2012.
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