End-November budget deficit widens to 8 pct of GDP

Romania's consolidated budget deficit widened to 8 percent of GDP at the end of November from 7 percent of GDP at the end of October, according to the report on the implementation of the general consolidated budget released by the Ministry of Finance. An amount equivalent to 4.16 percent of GDP was left in the economy to fight the COVID 19 pandemic. "The implementation of the general consolidated budget over January - November 2020 registered a deficit of 84.05 billion lei (8 percent of GDP). An amount of 43.66 billion lei (4.16 percent of GDP) was left in the economy through tax facilities, investments and exceptional expenses for the combat of the effects of the COVID-19 epidemic," the Public Finance Ministry said. Ten months into 2020, the budget deficit was 74.04 billion lei, respectively 7 percent of GDP. At the end of November last year the consolidated budget deficit was 37.05 billion lei, or 3.56 percent of GDP.AGERPRES(RO - author: Andreea Marinescu, editor: Mariana Nica; EN - author: Simona Klodnischi, editor: Maria Voican)