Gov't approves 2019 State Budget Bill, this year's Social Security Budget Bill

The government approved at Friday's sitting the 2019 State Budget Bill and the 2019 Social Security Budget Bill, with the acts to be next referred to Parliament on the same day, Minister of Public Finance Eugen Teodorovici told a press conference at the Victoria Palace of Government.

"I am pleased to tell you that today the government of Romania approved the 2019 Budget Bill and, of course, the social security budget," Teodorovici said, emphasizing also that the final version of the acts slightly differs from the version released on the website of the Ministry of Public Finance a few days ago, as a result of the debates held in the Economic and Social Council, of the opinion received from the Fiscal Council and the discussions with the four associative bodies.

"As a result of all these talks, several changes were operated in the government and you will see the final text we will post today for everybody to see what the final version of the draft budget the government is sending to Parliament today looks like. Next week, of course, we will set the timetable for the draft budget to be debated and then referred to the Parliament plenary," said the Finance Minister.

Teodorovici reiterated that the draft budget is built on an economic growth of 5.5 pct, which means a Gross Domestic Product worth 1,022.5 billion, a gross average wage of 5,163 lei, and a number of 5,282 employees in the economy.

"In the first three years of governing of the current parliamentary majority, the GDP will grow by more than 33 pct to 1,022 billion lei, it's the moment when Romania virtually tops the 1,000-bln lei threshold, which is extremely important and clearly shows that the economic measures set in place by the current government have produced the expected effect," Teodorovici said.

The FinMin cautioned that the budget deficit set at 2.55 pct of GDP can be maintained only by the joint effort of the governing team.

"A particularly noteworthy aspect, this year's budget deficit is set at 2.55 pct, as per the limits set forth in the Maastricht Treaty; the deficit can be maintained at the level proposed by the government, based on the analysis conducted by the Ministry of Public Finance, but this requires joint effort not only from the Ministry of Public Finance, but from the entire governing team, in order to cover four areas of reform and effectively direct the money exactly to the areas that need it," Eugen Teodorovici explained.AGERPRES(RO - author: Nicoleta Gherasi, editor: Oana Tilica; EN - author: Simona Klodnischi, editor: Maria Voican)

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