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.
Liberty Galați, the largest integrated steel producer in Romania, has appointed Cornel Moisescu as Head of Primary for Liberty Galați, part of its strategy to restart production operations and "ensure steel for the strategic economic sectors of Romania, including defense, shipbuilding, construction, and infrastructure," it said. Cornel Moisescu will coordinate the Sinter Plant, Blast Furnace, […]
The United States Immigration Service and the Romanian Ministry of Internal Affairs announced the establishment of a Transnational Criminal Investigative Unit, as agreed upon since 2023. "Romania and the United States of America continue to strengthen their strategic partnership in the field of national security, with a focus on combating cross-border crime. For this purpose, […]
The American group Greenbrier is closing its factory in Arad, which employs nearly 800 people. The group operates three factories in Romania, including Astra Rail Industries in Arad, a railcar manufacturer. The decision comes after "difficult and accelerated challenges on the local market,” first made explicit last year, when employees protested. The American company now […]
RPIA – the Romanian Photovoltaic Industry Association – is pleased to announce the organization of the EPC Masterclass: Business Growth & Innovation in Renewable Energy Projects, a workshop dedicated to the EPC sector, taking place as part of Green Energy Expo & Romenvirotec (April 9–11) at Romexpo, Bucharest. The event will be held on April […]
The NATO exercise “Dacian Spring 25,” which was meant to simulate the defense of Romania, was postponed as the local authorities failed to modernize five roads along with two bridges and two culverts that were to be used during the exercise, Europa Libera reported. Dacian Spring 25 was meant to...
Paul-Philippe of Romania, sentenced to 3 years and 4 months in prison in Romania in the case regarding the illegal restitution of the Băneasa Farm, was placed under house arrest in Paris on Monday, April 7, following a European arrest warrant issued by the Romanian authorities. The Brașov Court of Appeal requested the SIRENE Bureau […]
