Blaga: 2nd IMF installment, targeted to salaries, pensions and infrastructure
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Blaga: 2nd IMF installment, targeted to salaries, pensions and infrastructure
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President Traian Basescu announced he would urge IMF to deliver the second installment to the Romanian state budget and not to the central bank. Basescu added that the budgetary deficit estimated for the end of the year amounted 8% to 8.5% of the GDP, in comparison with the initial IMF prognosis, 4.6%.
According to Vasile Blaga, the governing parties will have to reduce the budgetary deficit from 8% to 7.2%. An IMF delegation is currently in Bucharest for a first evaluation of the stand by agreement with Romania, worth 12.5 billion euro.
The total financing package coming from IMF, European Union, World bank and the European Bank for Reconstruction and Development will sum up EUR 19.95 billion.
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