Romania's general gov't deficit reaches 4.17pct of GDP in H1 2020

Romania's general government deficit in the first six months of 2020 recorded a deficit of 45.17 billion lei (4.17% of GDP), according to data published on Tuesday by the Ministry of Public Finance (MFP).

"More than half of the deficit, or 23.04 billion lei (2.13% of GDP), is generated by the amounts left in the economy as tax benefits and exceptional expenditures adopted to combat the effects of the COVID-19 epidemic," according to MFP.

In the first five months of 2020, the government deficit stood at 38.84 billion lei (3.59% of GDP), while in the first half of 2019 it was 19.96 billion lei, or 1.94% of GDP.