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Romanian President: 2012 Budget Targets Deficit Of 1.9% In Cash Terms
03.11.2011, 21:19 | Finance-Banks | 993 views
Romanian President Traian Basescu said Thursday, after a meeting with the IMF, World Bank and European Commission delegation, that next year's budget will be built on a deficit of 1.9% of the GDP in cash terms, which can be increased up to 2.5% later in the year. Basescu said the economic growth forecast remains prudent. People close to the matter told Mediafax on Wednesday that the Government and IMF discussed a deficit target of 1.9-2.1% (in cash terms) for next year, which may be increased to 2.5% in the second half if state-owned enterprises are restructured, so that the final deficit including these companies' losses would be no higher than 3% of the GDP. Read more on Mediafax.ro
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