“Romania has achieved the first-quarter budget deficit target agreed with IMF, as revenue collections exceeded 35 billion lei and nears 36 billion lei, and expenditures came in below expectations, according to preliminary data centralized earlier this month”, according to sources quoted by NewsIn.
Ministry of Finance officials said however, that revenue goal agreed with the International Monetary Fund was difficult to achieve, and that the “37 billion lei target set by the fund would be almost impossible to stay within”.
Romania has committed to contain its budget deficit within the 8.25 billion lei target range and keep general government current primary expenditures below 32.9 billion lei, and raise state revenues to 37.8 billion lei.
Romania’s revenues to general government budget fell in the first two months this year by 3% from the same period of last year, to 25.2 billion lei, while expenditures rose 5.8% to 31 billion lei.
Budget revenues of 35 bn lei, meets IMF target
Revenue collections for the first quarter showed Romania took 35 billion lei, while expenditures across government undershot the target agreed with the International Monetary Fund, sources in the Ministry of Finance said.
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