FinMin: Budget deficit stays 5.9 pct of GDP in 2010

Publish date: 22-01-2010
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The budget deficit stays 5.9 percent of the GDP and the change of this parameter is not approached during talks with the International Monetary Fund representatives, Finance Minister Sebastian Vladescu declared on Thursday, before the meeting with the delegation of the IMF, World Bank and the European Commission.

'The budget deficit is off-limit. It stays 5.9 percent of the gross domestic product,' said Vladescu.

The Public Finance Minister also remarked that the document Romania received from the IMF sets forth supplementary measures the authorities need to enforce for the next tranche of the agreement to be unlocked, stressing also that the document is confidential.

'This is about measures other than those included in the already signed agreement. It's about agreement-revising measures,' stressed Vladescu.

The joint mission of the IMF, World Bank and the European Commission will work out an assessment report based on which the IMF Board will decide, between February 16 and 20, if the next two tranches totaling 2.3 billion of euros can be released in an a aggregate amount.

Romania should also receive one billion euros from the European Commission and, depending on the World Bank's Board approval, another around 300 million euros from the World Bank.


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