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 andrei@romania-insider.com. 

 

Romanian Govt. passes budget revision: there’s enough money for pensions, wages

Romania’s new Government on November 26 endorsed the second budget revision, in line with the draft published the day before.

The deficit to GDP ratio is preserved at 7.13% of GDP - which allowed the Executive to increase the deficit in nominal terms by RON 1.1 bln (EUR 220 mln) and, also backed by robust revenues, earmark supplementary funds, including RON 2.2 bln (EUR 440 mln) to the ministry of labour and social assistance, News.ro reported.

This allowed finance minister Adrian Caciu to assure the public pension recipients, as well as the employees in the budgetary system, that their pensions/wages would be paid in time.

This is not a major achievement, though, since the Government can afford a deficit of over 3% of GDP in November-December after it avoided setting a tighter deficit target.

In nominal terms, the Government can spend EUR 6.6 bln more than it collects in the last two months of the year.

andrei@romania-insider.com

(Photo source: Gov.ro)

Normal
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 andrei@romania-insider.com. 

 

Romanian Govt. passes budget revision: there’s enough money for pensions, wages

Romania’s new Government on November 26 endorsed the second budget revision, in line with the draft published the day before.

The deficit to GDP ratio is preserved at 7.13% of GDP - which allowed the Executive to increase the deficit in nominal terms by RON 1.1 bln (EUR 220 mln) and, also backed by robust revenues, earmark supplementary funds, including RON 2.2 bln (EUR 440 mln) to the ministry of labour and social assistance, News.ro reported.

This allowed finance minister Adrian Caciu to assure the public pension recipients, as well as the employees in the budgetary system, that their pensions/wages would be paid in time.

This is not a major achievement, though, since the Government can afford a deficit of over 3% of GDP in November-December after it avoided setting a tighter deficit target.

In nominal terms, the Government can spend EUR 6.6 bln more than it collects in the last two months of the year.

andrei@romania-insider.com

(Photo source: Gov.ro)

Normal
 

facebooktwitterlinkedin

1

Romania Insider Free Newsletters