Romania’s public deficit to GDP ratio exceeded 3% of the full year’s projected GDP in January-April from 2.06% in Q1 after the government paid in advance the pensions at the end of April ahead of the Labour Day-Orthodox Easter holiday, Profit.ro announced.
However, the RON 11 billion (EUR 2.2 billion), accounting for 0.62% of GDP supplementary pensions paid in April, will ease the public spending in May.
Corrected for the pensions paid in advance, the public deficit in the first four months of the year reached 2.4% of GDP out of the full-year target of 5% of GDP.
The government, however, said that it expected front-load budget expenditures in the first quarter of the year when the gap was expected to hit 2.4% of GDP amid significant defense spending.
iulian@romania-insider.com
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