Government spending

Coronavirus epidemic in numbers

The ranks of the jobless swelled from EUR 77,484 at the end of February to 88,648 by the end of April, according to Employment Service figures.

Growth slowed in May, but the jobless total has already exceeded 90,000 and many more are expected to be laid off in the coming months.

FinMin Citu: It's first time in history when fiscal, monetary policy work almost perfectly

It's the first time in history when fiscal and monetary policy work nearly perfectly, stated, on Monday evening, at private broadcaster B1TV, the Minister of Public Finance, Florin Citu, mentioning that the message given by the National Bank of Romania (BNR) is very important. "Besides the relaxed fiscal policy we now have another impulse.

Budget deficit, rises to 6.7pct of GDP at adjustment

The deficit of the consolidated general budget for this year rises to 6.7pct of GDP at the first budget adjustment this year, given that the measures adopted to stimulate the economy represent 3pct of GDP, announced on Wednesday Finance Minister Florin Citu in a statement at the Victoria Palace. According to him, the cash deficit increases by 31.9 billion lei.

A response to the corona crisis in Europe based on solidarity

In a article co-authored by German Finance Minister Olaf Scholz and German Foreign Minister Heiko Maas the two ministers table a number of ideas on how the EU can get by through and after the coronavirus pandemic and grapple with its enormous social and economic repercussions in a spirit of solidarity that is needed to keep the Union together.

PM Orban says not favouring austerity measures, price freeze

Prime Minister Ludovic Orban said on Thursday that over 30% of the Romanian economy is affected by the novel coronavirus epidemic, noting that he is not favouring austerity measures or price freeze. "Given that a large part of the economy has been affected by the epidemic, it is clear that economic growth will be affected.

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.

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