The government has allocated RON 13.6 billion from the Budget Reserve Fund for education, health care, social assistance benefits and pensions, Finance Minister Marcel Bolos announced on Thursday, noting that this mechanism will be used until the end of the year for the appropriate control of state budget spending."The government has allocated RON 13.6 billion from the Budget Reserve Fund for important activities such as education, health care or social assistance benefits, including the funds necessary for the disbursement of pensions. The Budget Reserve Fund mechanism was adopted as we pursue a year-end budget deficit target of 4.4 percent of GDP, as set forth in the Convergence Program, and this is an extremely serious commitment undertaken towards the European Commission. Under these circumstances, the control over state budget expenditures must be an appropriate one, attaching utmost priority to the state's operating expenses, but also to the completion of investment projects with EU funding," Bolos said at the Victoria Palace of Government after the meeting of the Executive.He explained that through the Cohesion Policy for the 2014 - 2020 programming period, Romania must absorb an EUR 24 billion allocation until December 31, 2023."That's why these types of investments are the priority in financing and implementing projects," the minister emphasized.According to Marcel Bolos, Ordinance No. 90 of 2023 was approved exactly in order to ensure a correct management of state budget allocations, its purpose being to ensure priority funding for EU-funded investment projects, as well as for those financed under the National Recovery and Resilience Plan."As such, we will use the Budget Reserve Fund mechanism until the end of the year and we will try to ensure full financing for these priority investment projects for Romania," the Finance minister said.
Romania’s main trade union confederations are preparing coordinated protest actions and considering a general strike in response to the government’s new fiscal and austerity measures, Economica.net reported. The decision was made during a meeting of union leaders evaluating the impact...
The Coalition for the Digital Economy, which brings together companies such as Uber, Glovo, Wolt, Bolt, Bringo, and Lime, in response to Ziarul Financiar's claims that the drivers of the ride-hailing operators are avoiding taxes and social security contributions, assured that this is not the case. ...
Romanian energy group OMV Petrom (BVB: SNP) will decide by the end of September on the special dividend, based on the progress of the investment projects, the impact of the present and future fiscal reforms implemented by the government, and the market conditions, the company's CFO Alina Popa explained, quoted by Cursdeguvernare.ro. ...
Romania’s teachers’ unions announced on August 5 that education minister Daniel David has pledged to ask prime minister Ilie Bolojan to drop some of the most contested measures from the government’s first package of reforms, Hotnews.ro reported. The...
Although the Romanian government is preparing two additional extensive reform packages, targeting mainly the spending cuts and a higher efficiency in the public administration, the 7% of GDP target for this year will not be met, with a level above 8% of GDP more likely, according to a research report by UniCredit Romania. "Yet, we […]
Deputy prime minister Tanczos Barna stated on August 4 that Romania’s second package of deficit-reduction measures cannot move forward without addressing magistrates’ pensions, Economedia.ro reported. He warned that failure to reform the system would jeopardise...
