Home Page
 
News 14 Jan 13

Romania Unveils Budget For 2013

Prime Minister says draft budget for this year will put Romania back on the path to economic growth.

Marian Chiriac
Bucharest

Romania’s centre-left government is planning to a growth oriented budget for 2013, with a target growth of 1.8 per cent and a public deficit of under 2 per cent.

“We want to end the circle of last four extremely difficult years by restoring Gross Domestic Product to its 2008 level,” Prime Minister Victor Ponta said, presenting the plan.

GDP is estimated to reach to around 140 billion euro this year, after dropping to 118.3 billion euro in 2009, when the financial crisis started to wreak havoc with the domestic economy, Ponta said. Revenue for 2013 is set at 46 billion euro, 3 billion euro lower than last year.

The government intends to tighten fiscal discipline, eliminate the waste of public funds and act on the principle of social equity.

“As salaries have already been restored to their pre-2009 level, before they were cut, no more pay hikes are expected this year,” Ponta added.

The government has allotted 10.2 billion euro to pay public sector wages and 11.1 billion euro will go on pensions.

The Prime Minister also said Romania is hoping to conclude a new, precautionary-type agreement with the IMF and the EU, when the ongoing one expires in March.

Romania depends on a 20 billion euro rescue package from the IMF, the European Union and the World Bank. It obtained the loan in May 2009 in exchange for agreeing to push through austerity measures aimed at taming the country’s yawning deficit.

An IMF mission is to come this month to Bucharest to hold discussions on the next review of the programme.

Talk about it!

blog comments powered by Disqus

Related Headlines:

romanian-ruling-party-set-to-name-new-pm-06-26-2017
26 Jun 17

Romanian President Consults With Parties Over New PM

Romania’s President Klaus Iohannis has summoned the parliamentary parties for consultations on Monday to come up with the name of a new Prime Minister. 

26 Jun 17

The Balkans Today: 26th June - 30th June 2017

26 Jun 17

Macedonia in Line for Busy Political Week

25 Jun 17

Albania Awaits General Elections Results

25 Jun 17

LIVE: Albanian General Elections 2017

25 Jun 17

Albanians Head To Polls To Elect New Rulers

24 Jun 17

Albania's Election Escapades

Premium Selection

bosnia-s-ex-refugees-use-language-skills-in-call-centres-06-25-2017
26 Jun 17

Bosnia’s Ex-Refugees Use Language Skills in Call Centres

When German-speaking clients get through to a call centre, there is a good chance that the operator on the other end of the line is a Bosnian who found refuge in Germany during the 1992-5 war.

serbia-s-new-pm-likely-to-stay-in-vucic-s-shadow-06-26-2017
26 Jun 17

Serbia’s New PM Likely to Stay in Vucic’s Shadow

While Ana Brnabic awaits confirmation in parliament as Serbia’s new Prime Minister, experts say the real decisions will continue to be taken by her patron, President Aleksandar Vucic.

23 Jun 17

Albania Enjoys Calmest Ever Election Campaign

23 Jun 17

Romanian Top Filmmakers Fight for Reform

Latest News from the Balkans

26 Jun 17

Macedonia in Line for Busy Political Week

25 Jun 17

Albania Awaits General Elections Results

25 Jun 17

LIVE: Albanian General Elections 2017

25 Jun 17

Albanians Head To Polls To Elect New Rulers