Romania's Jan-Oct consolidated budget deficit at 3.37%/GDP-Finance Minister data By Reuters

Fed hikes by 0.25% in further downshift on tightening, but sees more hikes ahead

Romania's Jan-Oct consolidated budget deficit at 3.37%/GDP-Finance Minister data

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BUCHAREST (Reuters) - Romania's consolidated budget deficit widened to 3.37% of gross domestic product in the first ten months from 3.04% at the end of September, finance ministry data showed on Friday.

In nominal terms, the deficit stood at roughly 47.12 billion lei ($9.92 billion). Revenues amounted to 378.8 billion lei, or 27.1% of GDP, up 22.7% on the year. Spending stood at 425.92 billion lei. Investment spending, including EU-funded projects, stood at 47.56 billion lei, up 24.5% on the year.

The European Union state ran a deficit of 4.03% of GDP in the first ten months of last year. It targets a shortfall of 5.7% overall this year following a budget revision earlier this month.

($1 = 4.7518 lei)

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