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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian PM: we expect public deficit under 7% of GDP this year

Romanian prime minister Florin Citu announced "good news" for the economy, including better than expected budget revenues supporting a more ambitious target of under 7% of GDP for the public deficit this year.

"This is my new target, a public deficit of under 7% of GDP," PM Citu stated in a press conference held in Cluj-Napoca on April 16, quoted by Economica.net.

He further stressed that his Government achieved this despite not hiking taxes or introducing new taxes. Such a performance would be very much appreciated by the institutional investors and international financial institutions and will strengthen their trust in the Romanian Government, PM Citu argued.

Under the budget planning, the Government envisaged a 7.16%-of-GDP budget deficit this year as a (modest) step toward more substantial fiscal consolidation in the next years.

Besides the "better than expected revenues," PM Citu also mentioned a stronger real GDP growth: the Government assumed 4.3% growth while the International Monetary Fund is much more optimistic with a 6% forecast.

Furthermore, inflation might drive up the nominal GDP - further diluting the public deficit expressed as a fraction of GDP. 

(Photo: Dreamstime)

iulian@romania-insider.com

Normal
Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Romanian PM: we expect public deficit under 7% of GDP this year

Romanian prime minister Florin Citu announced "good news" for the economy, including better than expected budget revenues supporting a more ambitious target of under 7% of GDP for the public deficit this year.

"This is my new target, a public deficit of under 7% of GDP," PM Citu stated in a press conference held in Cluj-Napoca on April 16, quoted by Economica.net.

He further stressed that his Government achieved this despite not hiking taxes or introducing new taxes. Such a performance would be very much appreciated by the institutional investors and international financial institutions and will strengthen their trust in the Romanian Government, PM Citu argued.

Under the budget planning, the Government envisaged a 7.16%-of-GDP budget deficit this year as a (modest) step toward more substantial fiscal consolidation in the next years.

Besides the "better than expected revenues," PM Citu also mentioned a stronger real GDP growth: the Government assumed 4.3% growth while the International Monetary Fund is much more optimistic with a 6% forecast.

Furthermore, inflation might drive up the nominal GDP - further diluting the public deficit expressed as a fraction of GDP. 

(Photo: Dreamstime)

iulian@romania-insider.com

Normal
 

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