Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Adrian Caciu: 2023 budget is built on nominal...

Adrian Caciu: 2023 budget is built on nominal GDP prognosis of 1,552.1 billion lei, with real 2.8% growth

January 5, 2023

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.

Read in full - click here
Venice Film Festival: Romanian director Cristian Mungiu, member of this year’s jury

Romanian director Cristian Mungiu will be part of the jury that will judge the films in the main competition of this year’s Venice Film Festival - Venezia 82. The jury, headed by American director Alexander Payne, includes French director and screenwriter Stéphane Brizé, Italian director and screenwriter Maura Delpero, Iranian director and writer Mohammad Rasoulof, Brazilian actress, writer, and […]

Council of Europe report: Romania among six European countries facing severe prison overcrowding

Romania continues to face significant prison overcrowding, according to the Council of Europe’s latest data, released on Friday, July 18. The 2024 Annual Penal Statistics on Prison Populations (SPACE I) show that Romania is among six countries in Europe with severe overcrowding, housing 116 inmates for every 100 available places. The report, which...

Chris Hemsworth's surprise drum performance with Ed Sheeran in Bucharest featured in new ‘Limitless’ season

Chris Hemsworth returns to Disney+ in August with a new season of the National Geographic documentary series Limitless, this time focused not just on longevity, but on discovering how to live better. Titled Limitless: Live Better Now, the three-part season follows Hemsworth through physical, emotional, and mental challenges across six countries, with one standout episode […]

Black Sea 200 Regatta 2025: First non-stop offshore regatta in Romania takes place this month

The Black Sea 200 Regatta 2025, Romania’s first non-stop offshore regatta with a 200 nautical mile route, takes place between July 21 and 27. Now in its first edition, the event brings together more than 10 boats from Romania and Bulgaria, according to the organizers. The endurance course will start and finish in the Romanian […]

Illegal zoo in southern Romania fined for environmental and animal welfare violations

The National Environmental Guard has fined an illegally operating zoo in Dâmbovița county, southern Romania, a total of RON 120,000 following a joint inspection that uncovered serious violations, including the lack of environmental authorization and inadequate conditions for wild animals kept in captivity. The zoo was reportedly charging RON 50 per person for entry and […]

Romania’s cybersecurity agency and Enevo join forces to protect energy infrastructure

The National Cybersecurity Directorate (DNSC) and engineering company Enevo Group have signed a strategic cooperation agreement to strengthen cybersecurity in Romania’s energy sector. The partnership aims to test and develop monitoring and alerting technologies for cyberattacks, and to improve national response coordination to incidents affecting critical infrastructure, the companies said. The agreement focuses on sharing […]