On Thursday, Romanian Parliament adopted a draft budget for 2013, targeting a deficit equivalent to 2.1% of GDP and an economic growth rate of 1.6%, newswires reported.
The 2013 budget will have a deficit of 18.176 billion lei, amid some projected revenues of 98.182 billion lei and some spending of 116.36 billion lei, according to the draft published on the website of the Ministry of Public Finance (MFP). (1 euro = 4.41 lei)
The budget projects an 18.1-billion-lei deficit, or 2.1 of the gross domestic product (GDP), down from 2.5 per cent in 2012. Projections are based on expected GDP growth of 1.5 per cent, also up from 0.2 per cent in the previous year.
The IMF recently allowed Romania three additional months, until June, to implement additional measures - including the sale of moribund state-owned enterprises - for access to a 3.5-billion-euro precautionary credit.
Source: bne