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27. 10. 09. - 09:00

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27. 10. 09. - 09:00

Romania has budget deficit below the IMF cap

Romanian Times

Romania’s consolidated budget posted a six billion Euro (25.56 billion lei) deficit, or 5.1 per cent of the gross domestic product (GDP), in the first nine months of 2009.

The Finance Ministry announced the news yesterday (Mon), adding that consolidated budget revenue had been 27.5 billion Euros (115.77 billion lei), down 6.7 per cent year on year.

The deficit is 40 per cent wider than in the same period of 2008.

Budget revenue accounted for 23.3 per cent of GDP, while expenses stood at 28.4 per cent of GDP in the first nine months of 2009.

The budget deficit was below the limit of of 6.4 billion Euros (26.9 billion lei) agreed upon with the International Monetary Fund (IMF).

Romania secured 19.95 billion Euros of financial aid from the IMF, the European Union and other international institutions earlier this year to cope with deepening recession.

The agreement between Romania and the IMF fixes quarterly performance criteria for this year's budget deficit, which needs to be lower than 7.3 per cent of GDP at the end of December.

Teo Trandafir resigns over health problems
Former TV star Teo Trandafir announced today (Fri) she was resigning from her position as lawmaker.

Wizz Air fills bankrupt Malev's shoes
Low cost airliner Wizz Air announced today (Fri) it would start a new route Bucharest - Budapest, after Hungarian state-owned company Malev suspended all activity and announced it was on the edge of bankruptcy.

Romania's population down due to migration
Romania's population dropped by 2.6 million persons in the last ten years, the first data of the census performed in October has shown.

Twenty-four dead in cold weather
Another two persons died in the last 24 hours, in Romania, due to hypothermia the Health Ministry said today (Fri).

Schools closed over bad weather
School classes were suspended in 373 institutions in 29 counties all over Romania, due to meteorologists' warnings of heavy snow, blizzards and low temperatures.

More gypsies in Romania census shows
Romania's population is falling but the number of gypsies is increasing despite massive emigration according to new census statistics.

Bosch starts 77 mn Euro investment in Romania with state aid
German automotive components producer Bosch will invest 77 million Euros in a new production facility in Jucu, Cluj county, northwestern Romania, Romanian Prime Minister (PM) Emil Boc was informed today (Thurs).

Army ready to fight snow
The Romanian Army is prepared for the emergency situations provoked by heavy snow and blizzards with 4,000 soldiers and over 1,000 pieces of equipment, the Defence Ministry said today (Thurs).

Boeing aircraft on sale by the tax administration
A Boeing aircrfat is up for auction at the local tax administration in Bacau, northern Romania, for as low as 20,000 Euros.

Twenty-two died in cold weather
There were 22 persons who lost their lives amid the lowest temperatures this winter, which dropped as low as minus 32.5 Celsius.