Romanian gov’t to allocate over RON 112 billion in investment for 2023 budget

As Romania is heading towards challenges of economic and societal pressures, finance minister Adrian Câciu announced the state’s budget for 2023 this week. A total of RON 112.1 billion, which amounts to 7.22% of GDP, is ready to be invested in different areas.

The Ministry of Family, Youth, and Equality of Opportunity sees the most improved allocation (+619%) compared to the previous year’s number, granted a budget of RON 620.7 million. The Ministry of Labor soars as the highest spender with a budget of over RON 60 billion, followed by the Ministry of Defense (RON 35.2 billion), Education (RON 32.5 billion), and Internal Affairs (RON 25.5 billion), News.ro reported.

The government also announced the increase of minimum gross salary to RON 3,000 from this year’s number of RON 2,550. The Gross Domestic Product (GDP) is expected to rise to over RON 1,552 billion from RON 1,396 billion.

Starting next year, financial aid granted to retirees whose monthly income is less than RON 3,000, and war veterans and widows will also see different numbers.

For pensioners, the grant will be paid respectively in January and October 2023 under several conditions. It starts from RON 1,000 whose monthly inclusive income is up to RON 1,500, RON 800 for those between RON 1,501 and RON 2,000, and RON 600 for those between RON 2,001 and RON 3,000.

Depending on their degrees of disability, war invalids will be eligible for compensation from RON 1,170 to RON 1,950 per month. Both war veterans and war widows (if they have not remarried) will also receive a monthly amount of RON 780.

The state will also support both large and small and mid-sized enterprises (SMEs) through its IMM Invest România projects next year to compensate for the increase in the price of fuel for fueling engines and the economic crisis generated by the pandemic.

(Photo source: Romanian Government/Facebook)