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Popa (BNR): IMF evaluation is too pessimistic

The estimates made by the International Monetary Fund which indicate a contraction of Romanian economy by 4% this year is too pessimistic, said the vice-governor of BNR Cristian Popa in an interview to Reuters, who expects a GDP drop of 1.5%.

"We are thinking of something closer to -1.5%" Popa said.He admitted that the economic drop will increase the budget deficit."I think that we are now talking about a budget deficit of about 4.6% of GDP this year, which seems to be according to the need to consolidate, even though economy is slowing down," Popa added.

He also said that the objective is to reduce budget deficit under the limit of 3% of GDP of EU over a period of a few years.IMF accepted for Romania, as part of the financing accord of 20 billion euros from international bodies, a budget deficit of 4.6% of GDP for this year, a lot over the level of 2% of GDP of the budget voted by Parliament. Last year Romania registered a budget deficit of 4.9% of GDP according to Romanian standards and 5.3% of GDP according to ESA 95 European standards.

 

Sursa: http://www.actmedia.eu

Tags: deficit budget bnr

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