Romania's ruling coalition plans 2024 budget ready by yearend

Romania's ruling coalition plans to have the 2024 budget planning drafted and passed by Parliament by the end of the Christmas recess, head of the junior ruling Liberal Party, Nicolae Ciuca, announced.

The target is not particularly ambitious given the legal requirements, but it is impressive as the 2023 budget revision remained in limbo until recently, and it was replaced with a surprising reallocation of funds.

Liberal leader Nicolae Ciuca promised that the 2024 budget planning will not be "an electoral budget" despite the multiple elections next year.

"We have a commitment at the [ruling] coalition level that the budget will pass by the end of the parliamentary session. We have to choose what is really a priority for Romanians, we will not finance electoral ambitions," said Nicolae Ciuca, quoted by Bursa.ro.

Romania's deficit is expected to drop to 5% of GDP from 6% this year, according to consensus expectations.

(Photo source: Inquam Photos/Sabin Cirstoveanu)