Eurostat Withdraws Reservation On Romania's Deficit Data

Eurostat has withdrawn its reservation expressed on the quality of Romania’s data on the budget deficit for the 2007-2010 period and confirmed the October 2011 notification from the eastern European country was according to ESA95 methodology, the Finance Ministry said Friday.

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"In the Friday release, Eurostat has presented the euro indicators on budget deficit data for 2007-2010, as reported by the member states in October 2011. Romania reported a budget deficit of 6.9% of the gross domestic product in 2010, while the government debt stood at 31% of GDP," the ministry said in a statement.

In April, the EU's statistics arm said it was reserved on the quality of data reported by Romania, citing "uncertainties on the impact of some public corporations on the government deficit, on the reporting of ESA95 categories "other accounts receivable and payable", on the nature and impact of some financial transactions and on the consolidation of intra-governmental flows."

"Eurostat has confirmed that in the October 2011 notification the above mentioned items have been recorded according to ESA95 methodology and the related manuals," the institution said Friday.

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