August 30, 2018 / 4:15 PM / 2 months ago

Romania's 7-month budget deficit narrows to 1.3 pct/GDP

BUCHAREST, Aug 30 (Reuters) - Romania’s consolidated budget ran a deficit of 1.3 percent of gross domestic product at the end of July, after a shortfall of 1.6 percent at the end of June, the finance ministry said on Thursday.

In nominal terms, the deficit stood at 11.9 billion lei ($2.99 billion). Revenues stood at 17.0 percent of GDP, or 161 billion lei. Spending was about 173 billion lei.

The Social Democrat government targets a deficit of just under 3 percent of GDP, the European Union’s ceiling. ($1 = 3.9853 lei) (Reporting by Radu Marinas)

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