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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO Govt. unveils 2021 budget and promises big reforms

Romania's Government will pursue big reforms in four areas (pensions, incomes, education, and public administration) this year, announced prime minister Florin Citu along with the publication of the 2021 budget planning, Adevarul reported.

As previously announced, the public deficit is planned to reach 7.16% of the GDP this year, down from 9.8% of GDP last year.

PM Citu assured that he would get involved personally in promoting these reforms and thoroughly evaluate each minister's performance at the middle of the year when the budget execution for the first half of the year becomes available.

He stressed that the incomes in the budgetary sector were frozen, and he expects from each minister and state-owned company a plan of reforms by mid-year.

Compressing the public payroll, pensions, and other social benefits within the legal provisions is one of the main elements supposed to support fiscal consolidation, judging from the measures outlined by PM Citu.

The bonuses and other benefits will be maintained at the level of December 2020, and the holiday-related bonuses and vouchers are waived.

The overtime will be compensated in kind. The social security expenditures - the biggest single expenditure in Romania's budget (some one third) - will increase by RON 4.4 billion (EUR 0.9 bln) to RON 143 bln (just under EUR 30 bln, or 14% of GDP) this year. 

(Photo: Ilona Andrei/ Inquam Photos)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

RO Govt. unveils 2021 budget and promises big reforms

Romania's Government will pursue big reforms in four areas (pensions, incomes, education, and public administration) this year, announced prime minister Florin Citu along with the publication of the 2021 budget planning, Adevarul reported.

As previously announced, the public deficit is planned to reach 7.16% of the GDP this year, down from 9.8% of GDP last year.

PM Citu assured that he would get involved personally in promoting these reforms and thoroughly evaluate each minister's performance at the middle of the year when the budget execution for the first half of the year becomes available.

He stressed that the incomes in the budgetary sector were frozen, and he expects from each minister and state-owned company a plan of reforms by mid-year.

Compressing the public payroll, pensions, and other social benefits within the legal provisions is one of the main elements supposed to support fiscal consolidation, judging from the measures outlined by PM Citu.

The bonuses and other benefits will be maintained at the level of December 2020, and the holiday-related bonuses and vouchers are waived.

The overtime will be compensated in kind. The social security expenditures - the biggest single expenditure in Romania's budget (some one third) - will increase by RON 4.4 billion (EUR 0.9 bln) to RON 143 bln (just under EUR 30 bln, or 14% of GDP) this year. 

(Photo: Ilona Andrei/ Inquam Photos)

[email protected]

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