Negotiation with IMF, EC experts: 2 pc deficit of GDP for co-financing and army


Government will negotiate with the International Monetary Fund (IMF) and European Commision (EC) experts, arriving Tuesday in Bucharest, a deficit of 2 to 2.1 percent of GDP in 2015, additional percentage of 0.6-0.7percent to be used exclusively for army and co- financing, but at this level further action is needed on income or expense, Mediafax informs.

The budget deficit target set for next year is 1.4 percent of PIB, which corresponds to a structural deficit of 1 percent of GDP, which Romania has pledged to achieve by next year.

According to several sources, simulations carried out at this moment at the Ministry of Finances aims to reduce costs by cutting almost all ministries. It’s hard to believe that the IMF and EC experts would accept an increase in the revenue projection beyond the linear adjustment with economic growth estimate.

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