ROMANIA: Consolidated Budget Deficit 2005 May Widen to Some 1% of GDP

According to Romanian Prime Minister Calin Tariceanu, the consolidated budget deficit 2005 will most probably widen to some 1% of GDP, Reuters reports.

Romania, which hopes to become an European Union member in 2007, had already agreed with the International Monetary Fund (IMF) to limit the budget deficit to 0.74% of GDP.

However, this proved to be unfeasible due to spending needs resulting from extensive floods the country has suffered this year. Source: REUTERS

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