Budget deficit could fall to two percent of GDP

The general consolidated budget could fall this year to around two percent of GDP, compared with an initial target of 2.7 percent, Minister of Economy and Finance Varujan Vosganian said late on Tuesday, on the occasion of a monthly meeting of the members of the Romanian-German Chamber of Commerce and Industry (AHK).

'For entering the euro zone and the euro corridor in 2010, Romania has to have a deficit of at most one percent of GDP. We are committing ourselves to reach a budget deficit of one percent of GDP in 2010. We think of measures aimed at the discipline of the budget expenses, ' Vosganian also said.

The budget deficit target for this year stands at 2.7 percent of GDP. Last year, the defici stood at 2.4 percent of GDP.

Rompres