Finance minister Adrian Caciu declared, on Thursday at a government meeting when next year's budget was approved, that the 2023 budget was built on a nominal GDP prognosis of 1,552.1 billion lei, with a real growth of 2.8%, and on a deficit increase – the current account deficit drops to 8.5% from 8.8% and public deficit drops to 4.4% of GDP from 5.7%. “2023 budget starts and is built on what was presented by the National Commission of Strategy and Prognosis, referring to the prognosis of macroeconomic indicators, in the autumn 2022 prognosis. For 2023 we have a nominal GDP prognosis of 1,552.1 billion lei, with a real increase of 2.8%, slowing down from what means economic growth foreseen for 2022, which was 4.6%. A deficit drop, the current account deficit drops to 8.5% from 8.8% and public deficit drops to 4.4% of GDP from 5.7%,” said Caciu, at the Executive meeting. He added that next year's budget has in view a decrease, at inflation level to the annual average of 9.6 with the intention to reach a 2023 inflation of 8% at the end of 2023. “The draft budget has in view an increase of the average monthly gross salary of 6,789 lei from 6,120 and of the average net salary to 4,235 lei from 3,801 lei, and an increase of the average number of employees to 5,252,000, compared to 5,175,000 in 2022 and a drop of the unemployment rate recorded at 2.7% to 2.9% as estimated for 2022,”Caciu added. The finance minister pointed out that “fiscal-budget policy objectives which were had in view continue to be represented by the continuation of measures for a robust economic recovery, maintaining and supporting a new frame of durable, just and inclusive development, which should ensure an ecological, economically efficient, socially bearable transition based on competitiveness, innovation and decarbonization, leading to the elimination of vulnerabilities in economies and to ensure a decent living standard.” He pointed out that the gradual achievement of fiscal consolidation should be continued, allowing to reach the deficit target foreseen in European regulations until the end of 2024. The PSD minister added that the budget is built “prudently and focussed mainly on investments.” “We have a 7.2% GDP allocation in 2023 for investments, a nominal volume of 112 billion lei, but at the same time, we balance stimuli for economy, we support the population, in order to fight the erosion of the purchase power which was produced by inflation,” Caciu concluded.
The average office fit-out costs have increased by around 15-20% during the past 12 months, but they still remain among the lowest in the Central and Eastern Europe (CEE), according to data from the Cushman & Wakefield Echinox real estate consultancy company. With an average level of €943 per sq. m of office space, the […]
Romania is present at the 10th edition of the EU-Startups Summit in Malta, the biggest event for tech startups in Europe, through RoTechMission, a delegation organized by DiFine PR, Techcelerator and ROTSA (Romanian Tech Startups Association). More than 2,000 people, including 1,000 entrepreneurs and 300 investors, will attend the event, which takes place from May […]
AeroVacanțe, part of the Aerotravel group, is betting in 2024 on new destinations, more accessible for Romanians, as a result of the growing demand for holidays in new destinations untouched by mass tourism. Thus, the agency introduces for this summer 14 charter flights to Lesbos, the third largest island in Greece, where the costs of […]
The Atlantic Council will honor Romanian president Klaus Iohannis with the Distinguished International Leadership Award for his remarkable career, exemplary leadership of Romania, and his transatlantic and European leadership role. The Atlantic Council’s Distinguished Leadership Awards are often referred to by media as “the Washington Oscars.” Among the honorees are a European head of state, […]
The colorful rapeseed fields in the southern part of Romania have been photographed by NASA from a satellite and featured in an accompanying article titled “Golden Fields in Romania.” The spectacular images were taken last month above the area where the Olt River intersects with the Danube. According to the article, NASA personnel were impressed […]
UiPath, an AI-based company founded by Romanian entrepreneurs and listed on the New York Stock Exchange in 2021, has recruited Raghu Malpani as Chief Technology Officer. Malpani, who was Corporate Vice President at Microsoft for the Microsoft 365 Application and Data Platform will report to the Director of Innovation and the Executive President of UiPath, […]
