Romanias Jan-Nov budget deficit down 40% y/y to 1.77%/GDP.

By bne IntelliNews January 3, 2013
Romanias general government deficit narrowed 40% y/y to RON 10.8bn in Jan-Nov, the finance ministry said in a statement. The country aims to keep last years fiscal gap below 2.2% of GDP and to continue the fiscal consolidation to a 1.7%/GDP gap in 2013. Jan-Nov revenue increased 7.6% y/y to RON 175.4bn, or 28.8% of the projected GDP. Expenditures rose by only 3.8% y/y to RON 186.2bn over the period as the government spent less for co-financing EU-funded cohesion programmes and increased capital spending by only 1.8% y/y.

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