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Romania budget deficit go below 3pc

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"The 2012 fiscal gap target should be revised because of financing costs. It's good to be much lower than 3 percent," Basescu told a news conference after meeting government ministers earlier in the day.

"A major goal is that the budget must limit borrowing levels. All assessments have showed that financing will be extremely costly. And this is not because of us."

Copyright Reuters, 2010