PM Ciuca: Final decision on budget rectification, by mid-August

A final decision on the budget rectification will be taken by mid-August, and both the budget execution for the first six months, and the indicator aimed at reducing expenditure for goods and services by 10% will be taken into account, so that an amount to be used in unforeseen situations can be secured in the Reserve Fund, Prime Minister Nicolae Ciuca declared on Wednesday at the beginning of the government meeting.

"It became obvious that the dynamics of all these situations naturally require us to have a consistent reserve, so that we can intervene whenever necessary," said Nicolae Ciuca.

He stated that the analysis of the budget execution for the first six months is in the process of being finalised.

"And, as the data shows, we can say that despite the successive crises we have to face, the measures we took at the Government level to protect the economy and the citizens were reflected in the increase in revenues and the maintenance of budget expenditures below the increase in the nominal value of the gross domestic product," argued Ciuca.

The prime minister emphasized, as beneficial aspects, the fact that the budget deficit for the first six months is 1.71% of GDP, and revenues increased by 22.9% compared to the same period last year.

"We have an increase in nominal value of 40.3 billion RON, expenditures increased by 14.3%, remaining, as I was saying, below the level of income growth, the absorption of European funds increased by 16.4%, as compared to the similar period of last year and the reduction of the deficit, again, a very important indicator, by practically 1.25%, compared to 2.86% in 2021. Today we are reporting a deficit of 1.71%. Allocations that we established for the support programs for Romania were based on measures that we followed, so that they were put into place as concretely as possible, namely e-Invoice, the goods radar, the increase in collection, and this year the increase in collection shows an increase, an indicator of 0.6%. Basically, we reached 8.1% of GDP compared to 7.5% of GDP last year," Ciuca went on to say.AGERPRES

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