Romania to revise budget to show narrower deficit


Romania's government will revise the budget for a fourth time this year to cut deficit figures because a surplus was recorded for the first nine months.

The government next month will revise the budget to allow for a deficit that's narrower than the latest 2.5% target, Prime Minister Calin Tariceanu said, without giving a new objective for the gap. „We're in a situation that permits us to make this change,” Tariceanu said today in a televised speech from a business seminar in Bucharest. A surplus of 1.7% of GDP was posted for the first nine months this year, the Finance Ministry said on its Web site. Romania, which will join the European Union on January 1, has so far this year spent less than planned on roads, education, agriculture and the environment, while collecting more revenue from taxes. Romania's budget deficit will widen next year to as much as 2.8% of GDP, according to the government's budget draft. The country plans to spend more to come closer to EU standards, Tariceanu said October 13. The International Monetary Fund said October 10 that Romania should seek a balanced budget for next year to avoid an increase in the annual inflation rate to as much as 7%. (Bloomberg)


Chemark Inaugurates EUR 13 mln Pesticides Plant Crops

Chemark Inaugurates EUR 13 mln Pesticides Plant

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Higher Sugar Prices Raising Holiday Candy Costs Retail

Higher Sugar Prices Raising Holiday Candy Costs

Hungarian Tourism in Croatia Returning to Pre-pandemic Level... Tourism

Hungarian Tourism in Croatia Returning to Pre-pandemic Level...


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.