Budget deficit down to 0.63% in April

This year, the government targets a budget deficit of 2.3 percent of GDP, the latter estimated at RON 440 billion (€120.1 bln).

Most of government spending takes place at the end of the year, so the current deficit, although narrowed, is still high.

The general consolidated budget, including the state budget, the social security budget, and local budgets, registered a 0.2 percent surplus, while Finance Minister Varujan Vosganian estimated in mid-May a 0.14 percent budget surplus for the first two months of 2007. The figure is below last year’s 0.34 percent surplus for January-April, according to Finance and Economy Ministry data. (NewsIn