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2017 budget draft based on 5.2 per cent economic growth

The 2017 budget draft is based on a 5.2 per cent economic growth estimated for this year and above 5 percent over the entire 2018-2020-time frame, the (cash) budget deficit being forecast at 2.96 per cent of the GDP, and the annual average inflation rate, at 1.4 percent, according to a report released on the Public Finance Ministry's (MFP) website on Monday, says Agerpres.

2017-01-23 15:56:59

According to the document, the Gross Domestic Product (GDP) in 2017 is estimated at 815.198 billion RON (181.1 billion Euro), the revenues to the general consolidated budget, at 254.717 billion RON (56.4 billion Euro), and expenses, at 278.817 billion RON (61.7 billion Euro), resulting in a 24.1 billion RON deficit (5.3 billion Euro - 2.96 percent of the GDP).

The document points out that on the reference time frame there is estimated a deviation from the Medium-Term Budgetary Objective (MTO) established for Romania, namely 1 per cent of the GDP, the structural deficit for 2017 being estimated at 2.92 per cent of the GDP, in 2018, at 2.97 per cent of the GDP, and following a declining trajectory starting with 2019 and 2020.

"Even in the context of having this risk, the deviation from the MTO would occur in the conditions of keeping, during the entire planning time frame, a sustainable level of the public debt, under 40 per cent of the GDP," the report also says.



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