Romania records 0.5pc/GDP budget deficit at end-March

BUCHAREST: Romania's consolidated budget ran a deficit of 0.5 percent of gross domestic product at the end of March, after a shortfall of 0.6 percent at the end of February, the finance ministry said on Friday.

In nominal terms, the deficit stood at 4.46 billion lei ($1.16 billion). Revenues stood at 7.2 percent of GDP, or 66.4 billion lei. Spending was 70.8 billion lei.

The Social Democrat government targets a deficit of just under 3 percent of GDP, the European Union's ceiling.