Government spending

Minister of Finance Citu: Deficit up by 50 billion against budget adopted in December 2019

The budget deficit increases up to 90.9 billion lei following the budget rectification, an amount that represents 8.6% of GDP, so that the deficit is currently 50 billion lei higher against December 2019, when the budget for the current year was adopted, the Minister of Public Finance, Florin Citu, stated on Friday, in the beginning of the gov't meeting.

Greek budget records primary deficit of 8.199 billion euros in Jan-July, revenues drop

The Greek state budget recorded a primary deficit of 8.199 billion euros in the January-July period, against a surplus target of 1.166 billion euros, reflecting the impact of the repercussions of the coronavirus pandemic on the economy.

Millennial Blues: Pandemic Delivers Greece’s Stricken Generation Another Blow

Economic output is predicted to fall by 9.7 per cent, while unemployment, which had fallen below 20 per cent, is expected to return to over 20 per cent once again.

Stress and insecurity - but also hope

Alexandra Banou. Photo: Courtesy of Alexandra Banou

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.

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