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The government and the IMF projected the most drastic adjustment of the budgetary deficit for Q3Updated: 26-02-2010 | Economy
The reduction of the budgetary deficit towards the target of 31.9 billion lei ( 5.9of the GDP) agreed with IMF for this year will be quantified in the Q3, when the fiscal imbalance must drop by 4.8 billion lei against the level of the same period of last year. The adjustments of the other three quarters are most restricted, by comparing the period of July- September. The government agreed with IMF the reduction of the budgetary deficit for this year at 31.9 billion lei, from 36.1 billion lei in 2009 with deficit targets of 8.25 billion lei, 15.54 billion lei, 21.8 billion lei and 31.9 billion lei respectively for the end of the four quarters. In 2008, the budgetary deficit was 8.3 billion lei at the end of Q1, 14.456 billion lei in the first semester, 25.563 billion lei for the first nine months, 36.1 billion lei for the whole year respectively. Thus, the budgetary deficit would drop in the first quarter by 250 million lei, from 8.3 billion lei to 8.25 billion lei and to increase in the second by 1.14 billion lei, from 6.15 billion lei at 7.29 billion lei.During the last semester of the year, the indicator would drop, according to the objectives agreed with IMF, by 438 million lei, from 10.538 billion lei to 10.1 billion lei. The third quarter should bring the highest correction of the budgetary deficit of 4.847 billion lei, from 11.107 billion lei to 6.26 billion lei.
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