Romania will conclude the year 2018 with budget
\ndeficit below 3%, the Romanian Finance Minister Eugen Teodorovici had said in
\nJanuary, but many analysts were skeptical about the data presented by the
\nGovernment of Romania. Their reluctance was triggered by the upward trend of
\nthat indicator. From a budget deficit of 2.8% of GDP in July-September 2017,
\nRomania went to 2.3% of the GDP in the next months, to rocket to 3.6% in the
\nthird quarter. In March-April, Eurostat will confirm that Romania’s budget
\ndeficit was below 3% of the GDP, Eugen Teodorovici insisted. These days, the
\nEuropean Statistics Office has released its unaudited estimates, which confirm
\nthat Romania was under the agreed ceiling. According to the rules of the
\nEuropean Union, member states must keep their budget deficits below 3%, and
\nthis is what Romania did in 2018. Only one member country, Cyprus, had a
\ngovernmental deficit last year above 3% of the GDP, more precisely 4.8%,
\ncalculated based on the ESA 2010 methodology. Romania on the other hand was
\nlast year among the EU member states with a low governmental debt to GDP ratio
\n(35%), with only 6 Community members reporting lower levels.<\/p>\n
<\/p>\n
\n
<\/p>\n
At the opposite pole, 14 of the member states
\nhad government debt above 60% of GDP in 2018. The highest rates were reported
\nby Greece, Italy, Portugal, Cyprus, Belgium, France and Spain. <\/p>\n
<\/p>\n
\n
<\/p>\n
Meanwhile, according to Eurostat, in 2018 the
\ngovernment deficit and debt, both within and outside the Eurozone, dropped as
\ncompared to 2017. In the Eurozone, the government deficit fell from 1% of GDP
\nin 2017 to 0.5% of GDP in 2018, whereas across the EU it went down from 1% to
\n0.6%. As for the current year, the Government of Romania remains optimistic.
\nAlthough the European Commission’s autumn economic forecast says that Romania’s
\ndeficit will reach 3.4% of GDP in 2019, the Finance Minister speaks about a
\nlevel around 2.5%.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The European Statistics Office has made public preliminary economic data for 2018<\/p>\n","protected":false},"author":108,"featured_media":81601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[30079,35308,29594,39647],"coauthors":[],"class_list":["post-61562","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-budget-deficit","tag-economic-forecast","tag-eurostat","tag-government-debt-ratio"],"acf":[],"yoast_head":"\n