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European Union Says Romania’s Loan Program Is ‘On Track’

Romania’s international loan is “on track,” European Union Mission Chief Istvan Szekely said today in Bucharest.

The economy is expected to expand about 2 percent next year and the 2012 deficit target should be at 1.9 percent to 2.1 percent of gross domestic product, he said.

Jeffrey Franks, the International Monetary Fund’s Romanian resident, said the government is “on track” to have a budget gap for this year equaling 4.4 percent of gross domestic product.

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