Budget deficit after six months is 4.17% of GDP, more than half prompted by anti-COVID measures

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The general budget discharge for the first six months of 2020 has reported a deficit of RON 45.17 billion (4.17% of GDP), according to the latest statistics released by the Ministry of Public Finances on Tuesday.

According to some official forecasts, the year 2020n will end with a budget deficit of 6.7% of GDP.

“More than half of the deficit, namely RON 23.04 billion (2.13% of GDP) is prompted by the sums represting tax incentives and exceptional expenses adopted to counter the effects of the COVID-19 pandemic”, reads a ministry’s press release.

In the first five months of this year the budget deficit mounted to RON 38.84  billion (3.59% of GDP), while it stood at RON 19.96 bln in the first quarter of 2019 (1.94% of GDP).

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