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BUCHAREST, Feb. 7 (Xinhua) -- The Romanian parliament adopted the state budget and the social insurance budget for 2017 during its plenary session on Tuesday.
According to the document, the state budget revenues are forecasted at 254.72 billion lei (60.48 billion U.S. dollars). The expenditures are planned at 278.82 billion lei, or 34.2 percent of the gross domestic product (GDP).
The budget is based on a projected economic growth of 5.2 percent. The budget deficit will keep within the target of 3 percent of GDP.
After the OK vote in parliament, Prime Minister Sorin Grindeanu said that the budget for 2017 is "a balanced budget, focused both on supporting the social and development policies".
According to him, the cabinet managed, for the first time, to allocate 2 percent of the GDP to defense, an increase of 52 percent from a year ago. Enditem
