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Bogdan Dragoi: Deficit target for 2011 is to be met without problems; public debt is to decrease from 2013

The 4.4 percent of the GDP budget deficit target for 2011 will be met 'without any kind of problems,' and the public debt to the GDP ratio will enter a descending trend starting with 2013, Public Finance Ministry (MFP) Secretary of State Bogdan Dragoi said at Romania Financial Forum on Tuesday.

He also mentioned the descending trend of the budget deficit from 7.3 percent of the GDP in 2009 to 6.5 percent in 2010 and 4.4 percent in 2011, with eight months preliminary data on 2011 revealing a 2.4 percent of the GDP budget deficit.

Moreover, the 33.1 percent public debt to the GDP ratio is estimated not to exceed a maximum 33.4 percent in 2012, after which, from 2013 it will enter a descending trend.

The MFP official showed that the Treasury would have lower costs with the loans taken through securities, the inflation also entering a descending trend, in the conditions in which the securities' yields were reported to inflation plus a supplementary margin.

'The Government has restructured the social expenses sector and has created a fiscal space used exclusively for investments. We have solid structural policies and a 'credibility umbrella' through the agreements with the IMF, the EU and the World bank,' Dragoi also said.

Sursa: http://www.actmedia.eu

Tags: percent dragoi public deficit mfp

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