Second budget rectification in 2008

The rectification is based on figures for the first six months, when the consolidated budget registered higher revenues (36,6 percent year-on-year) but also higher spending (45.6 percent), according to data by the Economy and Finance Ministry.

The general consolidated budget registered a deficit worth RON 4.92 billion (€1.36 billion), or 1.12 percent of the gross domestic product (GDP), according to Economy and Finance Minister Varujan Vosganian.

Following rectification, the Transportation Ministry will receive and extra RON 2 bln (€0.55 bln) for road and railway repairs, for acquisitions of new train cars and a telecom system.

Economy and Finance Ministry will receive RON 376 million (€104.3 mln), while a further RON 200 mln (€55.5 mln) will be allocated to the Defense Ministry.

A first budget rectification for 2008 was made in March, when budget deficit was narrowed to 2.3 percent of the GDP from the previous 2.7 percent.