Romanian PM Confident Yr-End Budget Deficit Below 3% Of GDP

Romanian Prime Minister Calin Popescu Tariceanu said Tuesday that the country’s budget deficit will stay below 3% of gross domestic product in 2008, and says it will continue to support the central bank’s policies to temper inflation.

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“Romania is under no circumstance in danger of exceeding the 3% budget deficit limit,” Tariceanu said Tuesday in a press conference.

The PM also said that the country needs to add extra effort to extend investments and reduce the current account deficit.

“If we complete our projects, we will add EUR2 billion in the account,” Tariceanu said.

Romania's current account deficit widened 66.1% on the year in 2007 to EUR16.87 billion, reaching 14.28% of the estimated gross product in 2007, largely due to a widening of the trade deficit, preliminary central bank data showed.

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