The last five ministers picked for the Orban Government II will be heard today by the specialists committees of Parliament.
Hearings of the ministers picked to be part of the Orban Government II continue today by the specialist committees of Parliament.
On Monday, Tuesday and Wednesday, the ministers picked to be part of the Orban Government II will be heard by the specialist committees of Parliament.
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.
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.
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.
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.
Minister of Labour and Social Protection Violeta Alexandru and providers of private pension plans have been discussing for some time the return on investment rates offered by privately managed pension plans.
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.
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.