Ministry of Public Finance

The Ministry of Public Finance (MFP) has put forth a positive budget revision that secures compliance with the 2.76pct deficit, with the largest cuts according to the bill to be conducted in the appropriations for the Ministry of National Education, the Ministry of European Funds and the Ministry of Research.

The net wealth of the Romanian population exceeded 2,000 billion lei (over 423 billion euro) last year, close to the maximum threshold registered a decade ago, in 2008, and the real estate assets had the highest share in the net wealth of the Romanians, of almost 80 percent, according to data from the Financial Stability Report published by the National Bank of Romania (BNR).

A staff team of the International Monetary Fund (IMF) led by IMF Head of Mission Jaewoo Lee will be in Bucharest May 27 - June 7. On Monday, an IMF staff team led by Jaewoo Lee began a two-week visit to Bucharest to conduct an annual review of the Romanian economy, known as Article IV consultations. The team will discuss economic developments and policies with Romanian officials.

Prime Minister Viorica Dancila announced on Wednesday that the Development and Investment Fund is now operational. It is designed to make sure the "fair and balanced" development of local communities throughout Romania. "Starting today, we provide funding for investment projects by transferring 300 million lei from the Ministry of Public Finance to the National Strategy and Forecast Board.

The execution of the general consolidated budget for this January ended with a surplus of 700 million lei, or 0.07 pct of GDP, down from the 1.98 billion lei or 0.21 percent of GDP recorded in the same month of 2017, the Ministry of Public Finance informs on Tuesday.

Ministry of Public Finance will have a pro-active approach in the execution of the budget for 2019, Minister Eugen Teodorovici told a plenary sitting of Parliament on Wednesday.

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.

Spokesman of the National Bank of Romania (BNR) Dan Suciu turned critical on Darius Valcov, economic advisor to the Prime Minister, saying that the latter's suggestion that the formula used to calculate the interbank offered rate ROBOR should be changed or that the benchmark rate should be removed all together proves he is in serious confusion about the money market and its role in the

Romania closed 2018 with a general consolidated budget deficit of 2.88 percent of GDP, the same as in 2017, shows data released by the Ministry of Public Finance on Monday.

The budget deficit is thus below the target of 2.97 pct of GDP set by the authorities.

The Romanian Presidency of the Council of the European Union has finalized the process of adopting its first file in the area of economic and financial affairs, namely the Regulation as regards the minimum loss coverage for non-performing exposures (NPL), informs the Ministry of Public Finance (MFP).