Romania Has Requested No Financial Support - European Commission

Earlier this week, Romanian President Traian Basescu said the EU member intends to borrow some 6.0-7.0 billion euro ($7.7-9.0 billion) from the European Union, under the surveillance of the International Monetary Fund. He said a loan from the fund itself would be too expensive.

"There has been no request for financial support," the press officer and head of the press section of the Representation office, Daniela Rosca, told SeeNews in a written statement quoting Amelia Torres, spokesperson of EU Commissioner for Economic and Monetary Affairs Joaquin Almunia.

"We do have a problem with financing the [budget] deficit, there are many solutions - both [through assistance from] the European Commission and the alternative of the [International Monetary] Fund, we do not exclude either of them," Romanian Prime Minister Emil Boc told a news briefing after a cabinet meeting on Thursday. "We will take a decision in the following period".

Romania ended last year with a budget gap equal to 5.2% of the estimated gross domestic product (GDP), according to earlier statements of the prime minister. The country has said it will target a deficit of 2.0% of GDP this year, despite growing cash shortages amid the global financial crisis.

($ = 0.7768 euro)