Romania’s ’07 Budget Deficit Sixth In EU – Eurostat

Romania ranked sixth in the European Union with respect for the budget deficit registered in 2007, with 2.5% of the GDP, while government spending in another 15 community states overtook income, according to data presented Friday by European statistics office Eurostat.

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Budget spending represented 36.9% of Romania’s gross domestic product, while income reached 34.4% of the GDP.

Romania registered a 2.4% budget deficit in 2007, calculated by Romanian methodology.

In 2006, Romania’s budget deficit was 2.2% of the GDP, calculated by Eurostat methodology.

The statistics published Friday by Eurostat indicate that Hungary registered the highest budget deficit in the previous year – 5.5%, followed by UK – 2.9%, Greece – 2.8%, France – 2.7% and Portugal – 2.6%.

Deficits below the one registered in Romania were seen in states like Slovakia – 2.2% and Italy – 1.9%, but also Belgium, the Czech Republic, Malta, Austria, Poland and Slovenia.

Ten states in the EU registered surplus in 2007, the highest one being registered in Finland – 5.3%, followed by Denmark – 4.4%, Sweden – 3.5% and Bulgaria – 3.4%.

In Germany and Latvia, budget income equaled spending.

In the Euro area, the budget deficit dropped to 0.6%, from 1.3% in 2006, while on a European Level, the deficit dropped to 0.9%, from 1.4% of the GDP.

The Romanian government approved early March the first budget correction for 2008, which brought reductions in the budgets of almost all ministries, while the consolidated deficit set for this year decreased nu 0.4 percentage points, from 2.7% to 2.3% of the GDP.

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