Romania's Govt. to amend 2020 budget, pass 2021 budget law after Dec 6 elections

Romania's ruling Liberal Party (PNL) hopes to amend the 2020 budget and pass the 2021 budget planning through the Parliament after the December 6 general elections.

While it is broadly known what the 2020 budget revision should look like (namely reversing the 40% pension hike and cutting other social security benefits passed by the Social Democrats in the Parliament), no details have been revealed about the 2021 budget planning.

"Our goal is to pass the 2021 budget law by December 31, most likely after the Government's inauguration, between Christmas and the New Year," prime minister and PNL leader Ludovic Orban said on Saturday, News.ro reported.

Finance minister Florin Citu previously confirmed that a new budget revision is needed after the one inked by the Executive in mid-August was severely amended in Parliament by the Social Democrats (PSD). Critically, PSD enacted the 40% pension hike that the Government wanted to defer under the budget revision. But president Klaus Iohannis has not promulgated the budget revision bill yet, and PNL aims to reverse the 40% pension hike after it hopefully forms a new majority in Parliament after December 6.

"Judging by the budget execution as of now, a budget revision is needed by the end of the year," minister Citu said, according to Ziarul Financiar.

He also stressed that the next Government would approve the 2021 budget law, "based on the existing legislation" - that provisions 14% pension hike instead of the 40% hike pushed by the Social Democrat opposition.

(Photo source: Gov.ro)