BCR report: Romania's 2015 state budget, not achievable

Analysts with lender Banca Comerciala Romana (BCR) have criticized the Government’s budget for 2015 “given a number of weaknesses that have marked recent developments.” Certain elements “don’t correlate well enough or are not transparent enough to create the certainty that this budget is indeed achievable,” according to a BCR report, cited by local Economica.net. Some of the weaknesses presented in the report refer to reduced income collection, large tax evasion, volatile fiscal environment, poor absorption of EU funds, and much-delayed reforms in health, education or retirement. The descriptive part of the 2015 budget is “mainly an exact copy of the previous one, being a collection of figures and general targets, but lacking detail elements to make it more digestible,” according to the BCR report. Irina Popescu, irina.popescu@romania-insider.com