Romania's Jan-April budget deficit widens to 1.1pc/GDP

BUCHAREST: Romania's consolidated budget deficit widened to 1.1% of gross domestic product in the first four months, Finance Minister Eugen Teodorovici said on Monday, compared with a gap of 0.65pc in the same period of last year.

Teodorovici told a news conference he did not see a risk the budget shortfall will overshoot this year's target.

The ruling Social Democrats target a budget deficit of 2.8pc of GDP, marginally lower than last year's 2.9pc.

In nominal terms, the deficit stood at 11.4 billion lei ($2.70 billion) at the end of April.

Budget revenue totalled 99.5 billion lei, or 9.7pc of GDP. Spending stood at 110.9 billion lei.