End-August, the budget gap stood at RON12.97 billion, or 2.4% of GDP.

Total revenue to the consolidated budget rose 9.3% on the year to RON131.6 billion at the end of September, while overall expenditure was up 1.1% in nominal terms to RON145.2 billion.

In real terms, however, budget spending fell by 1.2 percentage points in January through September, the ministry said.

The figures for the first nine months point toward a successful achievement of this year’s budget deficit target of 4.4% of the GDP, it added.

Romania pledged to lower the budget deficit to below 3% of GDP by end 2012, from 6.5% of GDP in 2010. (EUR1=RON4.3246)

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