Romania 2010 Budget Revision Envisages 5.9% Avg Inflation - FinMin

The projections included in Romania’s first-half budget revision are based on an exchange rate of 4.24 lei/euro and an average annual inflation rate estimated at 5.9%, Finance Minister Sebastian said Wednesday.

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The government approved today the first budget revision of 2010, which includes fund increases for socially protected categories, alongside budget cuts for several ministries.

Budget revenues are estimated at RON165.4 billion, down from RON168.85 billion initially projected, while expenditure is expected to reach some RON200 billion.

Romanian authorities forecast an economic contraction of 1.7% to 1.9% in 2010, down from a growth of 1.3% initially estimated.

The country's budget deficit is expected to reach 6.8% of the gross domestic product at year-end.

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