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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 andrei@romania-insider.com. 

 

Romania posts 0.3%-of-GDP public deficit in January

Against the seasonal pattern, Romania's public budget ended the first month of the year with a deficit of 0.3% of the GDP projected for the full year, according to finance minister Alexandru Nazare.

"It is not a deficit of 0.5% of GDP. It is indeed a deficit of 0.3% of GDP, but you will see in the budget execution report that we have a 5.9% year-on-year increase in revenues. There are also good signs in the budget execution structure, which is not significantly different from that in January 2020. January is a normal month, which gives me hope that we move in the right direction," said Nazare in a conference organized by DC News Media Group, quoted by Agerpres.

Romania's Government ended January 2020 with a small deficit of 0.04% of GDP, but typically the budget posts a small surplus in the first month of the year.

In January 2021, the Government and public administration operated with no budget planning approved  - meaning that its expenditures were limited to 1/12 of the budget in the previous year.

For 2021, the Government envisages a 7.16%-of-GDP budget deficit, down from a 9.8% gap in 2020. 

(Photo: Alexandru Nazare Facebook Page)

andrei@romania-insider.com

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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 andrei@romania-insider.com. 

 

Romania posts 0.3%-of-GDP public deficit in January

Against the seasonal pattern, Romania's public budget ended the first month of the year with a deficit of 0.3% of the GDP projected for the full year, according to finance minister Alexandru Nazare.

"It is not a deficit of 0.5% of GDP. It is indeed a deficit of 0.3% of GDP, but you will see in the budget execution report that we have a 5.9% year-on-year increase in revenues. There are also good signs in the budget execution structure, which is not significantly different from that in January 2020. January is a normal month, which gives me hope that we move in the right direction," said Nazare in a conference organized by DC News Media Group, quoted by Agerpres.

Romania's Government ended January 2020 with a small deficit of 0.04% of GDP, but typically the budget posts a small surplus in the first month of the year.

In January 2021, the Government and public administration operated with no budget planning approved  - meaning that its expenditures were limited to 1/12 of the budget in the previous year.

For 2021, the Government envisages a 7.16%-of-GDP budget deficit, down from a 9.8% gap in 2020. 

(Photo: Alexandru Nazare Facebook Page)

andrei@romania-insider.com

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