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Minister Valcov: We negotiate budget deficit of 1.4% with IMF for 2015
Romanian authorities and the IMF Mission are negotiating a budget deficit of 1.4% of GDP for 2015, while two components - additional allocations for the army and co-financing of European funds are negotiated separately, said Darius Valcov, the delegate minister for budget at the launch of the Pact for fiscality.
He explained that an additional allocation of 0.2-0.3% of GDP is negotiated for the army as well as co-financing European funds.Asked by journalists if the budget deficit negotiated for 2015 can exceed 2% of GDP, Valcov gave a negative answer.He pointed out that after the first 11 months of 2014, public investments grew by 3.8%compared to 2013 and that authorities intend to increase investments by 10 billion lei for 2015, from European funds and from the state budget.
Valcov also said that there are substantial increases in the 2015 budget at the Ministry of Transports and the General Secretariat of the government to which CNADNR is subordinated, and that priorities include investments in health, education and infrastructure.“All these things will be decided on Friday at talks with IMF and the Public Finance Ministry and they will be made public during the weekend,”Valcov added.
After the first 10 months of the year, the budget execution ended with excess of 0.29% of GDP compared to a deficit of 1.18% of GDP for the same period of 2013.
For 2014 Romanian authorities and IMF decided on a deficit of 2.2% of GDP both for cash and ESA methodology of the European Union.