Fiscal deficit tests patience of international financial markets

Government

Financial markets may be losing patience with Romania's high fiscal deficit, Daniel Dăianu, president of the Fiscal Council, warned, noting that the seven-year deficit reduction plan risks being too slow for some investors, Reuters reports. We note that, according to the 10-month budget execution, published yesterday by the Ministry of Finance, we have a budget deficit of 109.42 billion lei, or 6.19% of the Gross Domestic Product, compared to the deficit of 62.81 billion lei, or 3.91% of GDP

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