Romania’s public gap tops 3% of GDP in January-April
<p>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, <a href="https://www.profit.ro/taxe-si-consultanta/exclusiv-deficitul-bugetar-a-crescut-puternic-in-aprilie-dupa-ce-guvernul-a-platit-anticipat-pensiile-21584833?mc_cid=51fb4789bb&amp;mc_eid=cd1f92f96c" rel="noopener" target="_blank">Profit.ro</a> announced.</p>

<p>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.</p>

<p>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.</p>

<p>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.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: <a href="https://www.dreamstime.com/" rel="noopener" target="_blank">Vlad Ispas/Dreamstime.com</a>)</em></p>