Romanian economy contracted at an annual rate of 7% in 2009 and met the 7.3% deficit target at the end of last year, according to preliminary data issued by the Ministry of Finance, said state secretary with the Ministry, Gheorghe Gherghina.
“The preliminary data suggest that the economy has contracted at an annual rate of 7%, while the budget deficit has been successfully contained within the 7.3% target range,” said Gherghina.
“For 2010, we will work on the assumptions agreed with the European Commission. We expect the Romanian economy to return in the positive territory to 1.3% at year-end,” he said.
The state secretary at the Ministry of Finance also said that “total expenses in the 2010 budget will be 37.3% (e.n of GDP), versus 38% in 2009”, in order to meet the 5.9% deficit target.
