Budget deficit: 2.4% of GDP

The general consolidated budget saw a deficit of around 2.4% of the GDP, according to preliminary data, close to the target set by the authorities, according to official sources. The third budget adjustment in 2007, approved on November 19, had the Government reduce the deficit ceiling to 2.4% of the GDP, with last year’s budget initially estimated to register a 2.8% deficit. In the first 11 months of 2007, the general consolidated budget recorded a 4.436 billion-RON deficit, which amounted to 1.14% of the GDP. The budget went into deficit in November, after it registered a surplus of 0.12% of GDP during the first ten months of 2007.