Romania's Finance Ministry revised down by over 300 million lei the budget gap after the first three months of the year versus the data reported by the minister Gheorghe Pogea two weeks ago, NewsIn informs.
Pogea announced on April 14, on the basis of preliminary data, a budget gap of 8.3 billion lei or 1.56 percent of the GDP, with revenues having dropped by 6.2 percent and expenses having risen by 14.2 percent year-on-year. The GDP estimate this year is 531.25 billion lei.
Total revenues amounted to 38.06 billion lei during the first quarter, 5.5 percent down versus the same interval in 2008, when they stood at 40.26 billion lei.
Total expenses reached 45.98 billion lei growing 14 percent from 40.32 billion lei last year.
Pogea stressed that during the first quarter Romania remained within the 8.3 billion lei budget gap limit set by the International Monetary Fund.
The authorities agreed with the IMF upon setting deficit limits for each quarter, so that at the end of December it does not go beyond 24.3 billion lei. The second quarter margin is of 14.5 billion lei and the third limit stands at 18.6 billion lei.
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