The public debt of Romania has almost doubled in the last four years, reaching EUR 51 billion this year, which is 34.7 percent of GDP and making it the fourth least indebted nation in the EU, according to PM Ponta. The debt per capita has soared from EUR 1,400 in 2008 to EUR 2,500 at the end of 2012.

The government plans to bring the GDP to a pre-recession level of EUR 140 billion, after it sank to EUR 118.3 billion in 2009 – when the financial crisis started to wreak havoc in the domestic economy. Each Romanian has to generate EUR 7,000 this meet the GDP figures. Meanwhile, the budget deficit is expected to be lowered to EUR 3 billion, adding another EUR 150 to the public debt level of every Romanian. The budget revenue is set to reach EUR 46 billion.

Source: business-review.ro