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MFP committed to the European Commission to take measures for the budgetary adjustment in case there deficit target is missed

The ministry of finances (MFP)said that they will communicate permanently with the representatives of the European Commission regarding the stage of the target of budgetary deficit, established at little under 3% of the GDP for 2017 and in case of deviation from the target there will be measures taken to adjust the budgetary deficit.

‘When referring to the deficit target, we say that for 2017 a budgetary deficit of 2.96% is estimated. According to the ESA methodology, the deficit is estimated at 2.98% of GDP without getting over 3% of GDP as established by the Maastricht Treaty. For 2017 the structural annual balance of the public administration is 2.91% of GDP’ said the ministry of finances for News.ro

The institution mentions that between 2017 -2019 the public debt of Romania will be kept under 40% of GDP.

On Friday morning, premier Sorin Grindeanu met the ministry of finances,Viorel Stefan, and the chairman of the National Agency for Fiscal Administration (ANAF) Bogdan Nicolae –Stan at Palatul Victoria when they discussed the letter to the European Commission sent to the government where they ask measures for the reduction of the deficit, estimated at 3.6% of GDP as well as about budget collections.

The letter the European Commission sent to the ministry of finances warns that, according to the available data, the deficit would be over 3% in 2017 and requires the government in Bucharest to announce clear measures for its reduction.

According to the quoted sources, this is the first discussion about the letter of the European Commission,this subject not being discussed until now by the members of the government.