Senate Chairman Calin Popescu-Tariceanu, said Monday, after the European Commission issued its winter economic forecasts, that the deficit in Romania's national budget will be higher in 2017 than it was in 2016, but it will not exceed 3 percent. "I can confirm that the 2017 budget deficit will be somehow higher than in the previous year, but it will not exceed the 3-percent cap. We discussed all that when we had the national budget debates. We thought additional funds were required for investment so that Romania may ground its economic growth on the investment engine, instead of only on consumption. (...),' Tariceanu said Monday.
Asked about the European Commission's estimated 3.6-percent deficit for Romania in 2017, Tariceanu said, "I have not retained that there will be a deficit of 3.6 percent; what I have retained is that increases in certain prices are supposed to be expected. I do not want to go into such details; I do not think this is the way to have a conversation with the European Commission."
The European Commission has upwardly adjusted to 4.4 percent its growth estimates for Romania's economy in 2017, predicting a slowdown to 3.7 percent in 2018, according to its winter forecasts released on Monday.
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