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Dumitru: it’s almost impossible for Romania’s budget deficit to stay under 3% of GDP

Romania’s budget deficit will most likely reach 4% of the gross domestic product (GDP) this year, says Ionut Dumitru, chief economist at Raiffeisen Bank Romania and former president of the Fiscal Council. He thinks that the new Government, which won’t be installed earlier than November, won’t have time to correct the imbalances. The budget revenues are under target while the expenditures are higher than estimated by almost EUR 2 billion. In the first ...

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