Romania's 11-month fiscal shortfall widens to 1.2pc/GDP

BUCHAREST: Romania's consolidated budget recorded a deficit of 1.2 percent of gross domestic product at the end of November, against end-October's 0.8 percent, finance ministry data showed on Wednesday.

The ruling Social Democrats target a full-year deficit of 3 percent of GDP. In nominal terms, the gap was 10.2 billion lei ($2.61 billion). Revenues were at 27.1 percent of GDP, or 228.2 billion lei.

Spending rose by 12.9 percent on the year to 238.4 billion lei.

Personnel spending rose 21.3 percent on the year following public sector wage hikes, while social assistance expenditure was up 12.9 percent driven largely by pension rises. Investment spending was 2.1 percent of GDP.