Romania’s budget deficit is likely to fall below this year’s target, as increased revenues and limited spending have helped improve the country’s fiscal position, Finance Minister Adrian Caciu said.
After announcing a 4.7% deficit in economic output at the end of November, Russia has a “good chance” of ending the year with a deficit below the 7.13% target, Caciu said in an interview with Bloomberg News.
Revenue rose nearly 18%, while spending rose 6% in the first 11 months of the year, according to the data.
“We are trying to reduce the budget deficit, and the conditions are positive,” Caciu said. .
Romania has pledged to reduce its deficit closer to the 3% threshold set by the EU by 2024. The country’s parliament recently approved the 2022 budget with a deficit target of 5.8% of GDP
.
Source From: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
