September 13, 2017 / 11:33 AM / in a year

Romanian budget revision to keep deficit within target-finmin

BUCHAREST, Sept 13 (Reuters) - Romania’s Social Democrat government will approve on Wednesday a budget revision that will keep the consolidated budget at the initial target of 2.96 percent of gross domestic product in cash terms, Finance Minister Ionut Misa said.

Higher than expected economic growth of 5.6 percent compared with an initial estimate of 5.2 percent will boost budget revenue, Misa said.

The revision will cut so far unspent investment funds from the regional development and transport ministries and will allot more cash for farm, interior and health ministries, mainly to cover pay rises, subsidies and equipment purchases.

The finance ministry will get an additional 2.4 billion lei ($625.52 million) to ensure co-funding for projects covered by European Union development funds. ($1 = 3.8368 lei) (Reporting by Luiza Ilie)

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