Wednesday, April 2, 2008

Romania’s Debt Grows By A Quarter

BalkanInsight.com

01 April 2008
Bucharest _ Romania's public debt rose by 26.6 % in 2007 compared to the previous year, according to the country’s Ministry of Economy and Finance.

Debt reached Lei 80.255 billion (€ 22.23 billion) and stood at 20.5% of the Gross Domestic Product (GDP), the Ministry announced Tuesday.

Public debt rose 24.2 percent in 2007, reaching Lei 74.401 billion (€ 20.885 billion).

Of this the domestic figure stood at € 11.378 billion, accounting for 10.5 percent of GDP, while the foreign debt was about € 9.507 billion, or 8.8 percent of GDP.

The Romanian Gross Domestic Product rose 6% in 2007 to Lei 404 billion (€ 110 billion), and the budget deficit was 2.3% of GDP.

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