IMF: Romania Gross Govt Debt Up To 37.8% Of GDP In 2011

Romania’s gross general government debt is likely to increase to 37.7% of the gross domestic product in 2011, from 35.2% a year earlier, the International Monetary Fund said in a report Tuesday.

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In its latest Fiscal Monitor, the IMF said Romanian gross debt will remain at relatively stable levels for the next three years.

However, the budget deficit is expected to narrow to 4.4% of GDP this year and at 3% of GDP in 2012. Last year, Romania posted a budget deficit of 6.5% of GDP.

IMF estimated general government expenditure will fall to 37.7% of GDP in 2011, from 39.4% of GDP a year earlier. In 2012, government expenditure is forecast at 36.7% of GDP.

Additionally, Romania's budget revenue is estimated to reach 33.3% of GDP in 2011, up from 32.8% of GDP in 2010.

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