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Romania 8-month budget gap at 4.5 pctGDP

Romania's consolidated budget deficit rose to 4.5 percent of gross domestic product in the first eight months of the year, as the economic contraction pummelled tax receipts, the finance ministry said on Friday. Earlier this month, ministry officials had said the preliminary 8-month figure was 4.4 percent of GDP. From January-July, the shortfall widened by roughly one percentage point. Analysts have said the fast pace of expansion could place the centre-left government's end-year target at ...

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Tuesday, September 29, 2009