Budget deficit worth €2.8 bln in 2007

The budget deficit was of 2.4 percent of GDP. At the time of the third budget revision in November, the Government reduced the deficit from 2.8 to 2.4 percent.

Revenues in 2007 amounted to €39.7 billion, while expenditures reached €42.5 bln. The budget reached minus in December, after a year at 0.12 percent surplus of GDP.
State budget incomes totaled €33.4 bln in the first 11 months of 2007, while expenditures rose to €34.7 bln.

The Ministry of Economy and Finance spent €7.2 bln in December 2007, with revenues at just €5.6 bln, leading to a December budget deficit of €1.6 bln (1.3 percent).

The European Commission estimated in 2007 that Romania’s budget would increase to 3.2 percent in 2008.