Government adopts 2012 budget with a deficit target of 1.9% of GDP and 2.1% growth forecast

The PM stressed that Romania holds under control the sovereign debt and maintains its target to join the euro area in 2015. Boc highlighted that the state budget centres on 'forethought, responsibility and creating jobs.'

'Even if 2012 is an election year, we will not propose the Parliament a populist budget. Together with our partners in the coalition, we decided to propose this budget with caution,' Boc said. He showed they erred on the side of caution when making this budget.

The prime minister explained that this policy is influenced by the fact that the economic growth forecasts were downgraded to 0.5-0.6 percent of the GDP in the entire European Union as compared to the spring forecasts.

The drafts are to pass to the Parliament for debate and adoption.