Romania Insider
Romanian govt.'s budget amendment takes money from transports, research, education and culture

Romania’s Government plans to cut funds from the Transport Ministry, Research Ministry, Education Ministry and Culture Ministry in the second budget amendment for this year, according to a draft presented by the Finance Ministry.

Meanwhile, the Labor Ministry, the Health Ministry and Justice Ministry will get extra funds, local News.ro reported.

The Transport Ministry will lose the most funds, namely RON 1.16 billion (EUR 249 million), the Research Ministry will lose some RON 229 million (EUR 49 mln) and the Education Ministry will have its budget cut by RON 198 million (EUR 42 mln). Meanwhile, the Labor Ministry will get RON 787 million (EUR 168 mln) extra.

The Finance Ministry has kept the budget deficit target unchanged at 2.97% of the gross domestic product (GDP). However, the estimated nominal GDP increased compared to the previous budget amendment, allowing the government to also increase the nominal deficit.

[email protected]

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Romania Insider
Romanian govt.'s budget amendment takes money from transports, research, education and culture

Romania’s Government plans to cut funds from the Transport Ministry, Research Ministry, Education Ministry and Culture Ministry in the second budget amendment for this year, according to a draft presented by the Finance Ministry.

Meanwhile, the Labor Ministry, the Health Ministry and Justice Ministry will get extra funds, local News.ro reported.

The Transport Ministry will lose the most funds, namely RON 1.16 billion (EUR 249 million), the Research Ministry will lose some RON 229 million (EUR 49 mln) and the Education Ministry will have its budget cut by RON 198 million (EUR 42 mln). Meanwhile, the Labor Ministry will get RON 787 million (EUR 168 mln) extra.

The Finance Ministry has kept the budget deficit target unchanged at 2.97% of the gross domestic product (GDP). However, the estimated nominal GDP increased compared to the previous budget amendment, allowing the government to also increase the nominal deficit.

[email protected]

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