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Budget Def Financing At Moderate Costs, Essential For Romania – Ctrl Bker

Financing the budget deficit at reasonable costs is essential for Romania under the current circumstances, as even covering a low level, of 2% of the gross domestic product, may prove to be difficult, central bank governor Mugur Isarescu said Monday.
Budget Def Financing At Moderate Costs, Essential For Romania - Ctrl Bker
09 feb. 2009, 12:35, English

"The financing of the budget deficit is not at the back of our interests. It is a very serious issue. For the current moment, I find it even more important (…) The financial deadlock was also caused by the delay in budget payments to suppliers," Isarescu stated.

The governor said a deficit of almost 3% of the GDP equals more than 16 billion lei (EUR1=RON4.2522), which is not easy to finance under the current financial market circumstances.

Romania’s 2009 state budget draft targets a deficit of 2% of GDP.