FinMin Citu: Deficit to reach 5pct once with the increase of allowances and VAT cut

The budgetary deficit would reach 5 per cent of the Gross Domestic Product (GDP) next year, if the measures voted by the MPs on Tuesday regarding the VAT cut and the increase of the child allowances were applied, said the Minister of Finance, Florin Citu. "The impact of the allowance increase would be of 6 billion lei and that of the VAT cut of 11.8 billion lei. This means that the deficit could reach 4.3 per cent of the GDP only after the increase in the ...

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