February 15 (SeeNews) - Romania's parliament approved on Friday the consolidated 2019 state budget, which projects economic growth of 5.5% and targets deficit equivalent to 2.76% of the gross domestic product (GDP).
The 2019 state budget was adopted with 275 votes in favour, 122 against and two abstentions, according to data posted on the website of the lower house, the Chamber of Deputies.
The governing coalition of the left-wing Social Democrat Party (PSD) and the centre-right Liberal-Democrat Alliance (ALDE) control among themselves 244 of the 465 seats in parliament.
Members of parliament from the opposition right-wing National Liberal Party (PNL) and the centre-right Save Romania Union (USR) and Popular Movement Party (PMP) voted against.
Also on Friday, the lower chamber of Romania's Parliament adopted an amendment raising the deficit target to 2.76% of the gross domestic product for 2019 from the previous target of 2.55% of GDP envisaged in the draft adopted last week.
The amendment was submitted by PNL in order to hike child allowances this year from 84 lei ($20/17 euro) to 150 lei.
GDP in 2019 is estimated at 1.022 trillion lei ($246 billion/215 billion euro).
Budget revenues are projected at 341.4 billion lei, or 33.4% of GDP, while expenses are projected at 367.5 billion lei, or 35.9% of GDP.
Investment spending is seen at 47.2 billion lei in 2019, or 4.62% of GDP.
Now, the budget needs to be endorsed by president Klaus Iohannis, who on Tuesday commented that it is 'based on unrealistic economic estimates'.
Romania ended 2018 with a consolidated budget deficit equivalent to 2.88% of the estimated GDP, the same as in the previous year and within the EU's 3.0% limit, data from the finance ministry showed.
Romania's economy expanded by 4.1% in 2018, compared to a growth rate of 7% in the previous year, flash data from the country's statistical board showed on Thursday.
(1 euro=4.7383 lei)