Florin Citu

FinMin-designate Florin Citu: We must sort out deficit issue if we want lower interests

In order to have lower interests, Romania must sort out the deficit issue, Finance Minister Florin Citu said on Thursday; he also stated that this year the budget deficit stays at 3.6 percent of GDP and will fall below the 3 percent threshold in 2022. "Mr. central bank governor Mugur Isarescu is largely right: in Romania, the issue is not directly the interests, but the deficits.

Fin Min Citu: Romania will enter excessive deficit procedure, at earliest in March

Romania will fall under the excessive deficit procedure, something that cannot be avoided and the earliest it can happen is in March, Minister-designate of Public Finance Florin Citu told Monday evening private TV broadcaster Realitatea Plus. "The talks are ongoing with the European Commission. (...) And, yes, Romania will enter the excessive deficit procedure.

UPDATE Romania's end-2019 budget deficit at 4.6 pct of GDP

Romania closed 2019 with a budget deficit of 4.6 percent of GDP, above the authorities' November estimation, when the second budget adjustment was operated, Finance Minister Florin Citu announced on Tuesday. The only time with a wider budget gap was the crisis year of 2010, when the government ran a deficit of 6.5 percent of GDP. In 2018 the budget deficit was 2.88 percent of GDP.

PM Orban: ANAF not being computerized, reason for lowest tax collection rate in EU

Prime Minister Ludovic Orban said on Thursday night for the B1 TV private broadcaster that Romania has the lowest tax and duties collection rate in the European Union, one of the reasons being that the computerization of the National Tax Administration Agency (ANAF) was not carried out, although all the companies were required to change their cash registers.

FinMin Citu:Budget deficit has been covered with loans from market at decreasing interest rates

Romania enters 2020 with a budget, without the majority of measures introduced through Government Emergency ordinance (OUG) No.114 and the budget deficit has been covered with loans from the market at decreasing interest rates, Public Finance Minister Florin Citu wrote on his Facebook page on Tuesday.

#2019PresidentialElection/ Dancila: Orban Cabinet ministers aren't there to complain about difficult inheritance,but to find solutions

Social Democratic Party (PSD) candidate in the presidential elections Viorica Dancila has stated on Tuesday that Finance Minister Florin Citu's statements regarding the budget deficit led to the increase of the euro exchange rate, mentioning that the ministers of the Orban Cabinet are not there to complain about "the difficult inheritance", but to find solutions.

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