Bloomberg News

Romanian President Says Gap Should Be ‘Well Below’ 3% of GDP

October 24, 2011

(Updates with target range in second paragraph.)

Oct. 24 (Bloomberg) -- Romanian President Traian Basescu said contagion from the Greek debt crisis should force the government to craft a deficit for 2012 of less than 3 percent of gross domestic product.

The government should calculate the exact figure and find the measures to reach that target next year, Basescu said in a speech today in Bucharest. Basescu said he “hopes” the shortfall may be as small as 1.5 percent to 1.7 percent of GDP.

“The entire region has been contaminated because of a delay in deciding how to solve the Greek crisis,” Basescu said.

--Editor: Alan Crosby

To contact the reporters on this story: Irina Savu in Bucharest at; Andra Timu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

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