Thursday, October 23, 2008

Romania Govt to Debate 2009 Budget

22 October 2008
Bucharest _ The Romanian Government is to start discussion on the first draft of 2009 budget, which is aiming to boost spending on education, transportation, health and agriculture.

The government targets revenues at 38.8 per cent of gross domestic product overall in 2009, or Lei 224.5 billion, while spending of 40.8% of GDP, or Lei 236 billion.

The inflation target in 2009 will be set at 6 percent.

Romania faces a fiscal dilemma of having to pour cash into infrastructure and education and health programmes as it struggles to compete on European Union markets, while keeping spending down to contain inflation and a large current account deficit.

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