July 25, 2012 / 12:45 PM / 5 years ago

Romania on track to meet 2012 fiscal gap

BUCHAREST, July 25 (Reuters) - Romania is on track to meet its IMF-agreed budget deficit target of 2.2 percent of gross domestic product for 2012 and has met a January-June deficit ceiling, Finance Minister Florin Georgescu said on Wednesday.

“We are in the position to tell our international creditors that we met the budget deficit target for the first half and there are reasons that we will meet our 2.2 percent target for this year,” Georgescu said.

The deficit of 2.2 percent in cash terms would amount to 3 percent of GDP under European accounting standards, a target agreed under a 5 billion euro International Monetary Fund-led aid deal.

Reporting by Luiza Ilie; Editing by Radu Marinas

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