Romania 2011 Budget Gap Shrinks To 4.35% Of GDP
Romania's budget deficit narrowed to 4.35% of the gross domestic product in 2011, from 6.5% of GDP a year earlier, the Finance Ministry said Thursday.
The budget gap reached 23.8 billion lei (EUR5.5 billion), the data showed.
This confirms the figures published by Mediafax earlier January, when government sources told reporters that the 2011 budget deficit was below the 4.37% of GDP target agreed with the International Monetary Fund.
Overall revenue to the consolidated budget rose 7.6% on the year to RON181.6 billion in 2011, while total expenditure was up 1.5% in nominal terms to RON205.4 billion, ministry data showed.
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