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Nov 29, 2007 14:08 EEST
November 29 (SeeNews) - Romania's consolidated budget revenue might surpass 34% of the gross domestic product (GDP) at the end of this year, Finance and Economy Minister Varujan Vosganian said on Thursday.
"We will be ending the year with revenue accounting for more than 34% of the GDP," Vosganian told the Structural Funds in Romania - Start 2007 conference in Bucharest.
Earlier in November, after the government's third revision of the 2007 budget, Vosganian said revenue would be at around 33.5% of GDP this year as compared to some 32% of GDP for 2006, and projected that it would reach 39.6% of GDP in 2008.
Romania had a consolidated budget surplus of 450.0 million lei ($188.17 million/127.7 million euro) in the first 10 months of 2007, the ministry said on Monday.
Consolidated budget revenue totalled 105.82 billion lei through October and spending reached 105.37 billion, the ministry has said.
Romania had a consolidated budget surplus of 0.19% of GDP through September.
The country's consolidated budget gap was equivalent to 1.7% of GDP last year, below the government's target of 2.5%. Within the latest revision it has cut its target for 2007 to 2.4% of the projected GDP from a previous 2.7%.
(1 euro = 3.524 Romanian lei)
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