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Romaniaʼs Jan-Aug budget gap widens

Romaniaʼs consolidated budget was in deficit equivalent to 5.18% of the projected 2020 gross domestic product (GDP) in the first eight months of the year, compared to a gap of 2.1% of GDP in the same period of 2019, the countryʼs Finance Ministry said, according to a report by news agency Agerpres.

Photo by Bogdan Vija/Shutterstock.com

More than half of the deficit was generated by spending aimed at curbing the economic impact of the coronavirus pandemic, according to the ministry.

The consolidated budget deficit totaled RON 54.7 billion (EUR 11 billion) as at the end of August, as revenue fell 1.4% year-on-year to RON 201 billion, whereas spending rose by 13.3% to RON 256 billion.