Romania's Fin Min Says Budget Deficit Reaches 5.2%/GDP in Jan-Oct - Media

Romania had a consolidated budget deficit equivalent to 5.1% of the GDP in January-September.

The government in August raised its budget deficit target for the current year to 7.3% of GDP from 4.6% forecast earlier to match the projections made in the country's 20 billion euro ($30 billion) bailout package with the IMF, the European Union and the World Bank signed in late March.

The IMF, however, expects Romania's 2009 budget shortfall to exceed the target and come in at 7.8% of GDP, Mediafax (www.mediafax.ro) reported.

Romania, which joined the European Union in January 2007, must meet the Maastricht criteria on inflation, public debt, budget deficit, currency stability and interest rates to qualify for the adoption of the euro. The Maastricht budget gap threshold stands at 3.0% of GDP.

($=0.6668 euro)