Romania's fiscal deficit likely to exceed 7 pct of GDP in 2024

BUCHAREST, Aug. 20 (Xinhua) -- Romania's fiscal deficit is expected to surpass 7 percent of GDP in 2024 and has the potential to rise towards 8 percent, said Romania Fiscal Council's annual report on Monday.

The report comes after the first half of 2024 recorded a deficit of 3.6 percent of GDP, driven by a significant increase in public spending, only partially offset by better-than-expected budget revenues.