` Romania to Raise Defence Ministry Budget by $217mn Citing Problems in the Eastern Ukraine Regions ‘

#AceFinanceNews – BUCHAREST – April 28 – Romania will raise the defense ministry’s 2014 budget by $217.41 million, or 0.2 percent of national output, Prime Minister Victor Ponta said Monday.

As tensions continue to build in neighbouring Ukraine, Romania has agreed a fiscal budget deficit target of 2.2 percent of gross domestic product this year under the terms of a 4-billion-euro aid deal led by the International Monetary Fund, Reuters said.

Higher defence spending would raise the ceiling, as would government plans to slash employer taxes to the social insurance budget.

REUTERS – RT News – AP

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