MPF estimates budget deficit of 3.25% of GDP in 2017

The Ministry of Public Finance (MFP) estimates budget deficit of central public administration at 3.25% of GDP in 2017, calculated based on cash data by applying EU methodology, according to the Administration strategy of government public debt for 2017-2019, posted on MPF website on Thursday.

Economic growth is foreseen at 5.2% and nominal GDP of 816.5 billion lei. Current account deficit was estimated at 2,4% of GDO and inflation at 1.9% by the end of the year.

“Considering the international economic context and the economic and financial evolution in euro area, as well as the evolution of economic potential growth for 2017-2019, it is estimated that Romanian economy will accelerate growth, with GDP increase of 5.5% per year, on the average. Preliminary data of the first quarter, 2017 (5.7% increase Q12017/Q12016) confirmed expectations”, the document showed.

MPF expects gross financing of 63.9 billion euros.

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