Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. The 2016 state and social security budget was...

The 2016 state and social security budget was adopted by the Government

January 7, 2016

 The 2016 state and social security budget plans adopted by the Government will be sent Parliament on Wednesday, with the request to be debated and passed by an urgent procedure, the executive has said in a release.The general consolidated budget revenues are put at 231.1 billion lei, accounting for 31 percent of GDP, the general consolidated budget expenditure is estimated at 252 billion lei (33.8pct of GDP), and the (cash) budget deficit is anticipated at 2.8 percent of GDP next year, thus equalling ESA deficit of 2.95 percent of GDP and a structural deficit of 2.73 percent of GDP. The Romanian economy is estimated to grow 4.1 percent next year, amid the implementation of the economic stimulus measures included in the new Tax Code as well as 3.5 percent increase in the average number of employees, while at the same time cutting the unemployment rate to 4.8 percent by end-2016 down from 5.1 percent at the end of this year. The gross average salary earning in the economy will go up by 7.2 percent, which sets the prerequisites for a 6.6 percent rise in the real salary earning in the economy, the release said. The estimation of the general consolidated budget expenditure took into consideration the impact of the measures adopted by the Government and Parliament this year, which will have as an effect a rise in the budget expenditure at around 13 billion lei. Also considered was 5 percent increase in the pension basic grade from Jan. 1, 2016. Health expenditure amounting to 31.2 billion lei or 4.2 percent of GDP was included in building the general consolidated budget, by 3.1 billion lei more than in 2015 and by 4.5 billion lei higher than in 2014. Prime Minister Dacian Ciolos said on Wednesday that the 2016 budget was built considering a set of constraints imposed by the legislation adopted by Parliament, which prompted a rise in expenditure at around 12.6 billion lei. "There have been all kind of opinions these days relating the manner in which the Government should have tackled this legislation or not, these decisions that have a significant budgetary impact, opinions saying that the Government was allegedly frightened or proved cowardice by the fact it did not decide to reject certain proposals, possibly reject them by an urgent order. /.../ The Government decided to respect this legislation adopted by Parliament and to rather prove courage by taking upon ourselves the wisdom to search for solutions so as to apply this budget", the prime minister said at a news conference at Victoria Palace (the Govt's offices). According to Ciolos, the Government next year will create the prerequisites for meeting the agreed limits of the structural deficit on the medium-term.

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/the-2016-state-and-social-security-budget-was-adopted-by-the-government/61379
Read in full - click here
BVB-listed real estate company Meta Estate Trust appoints new CEO

Meta Estate Trust, a holding company active in the real estate sector and listed on the Bucharest Stock Exchange (BVB) under the symbol MET, announced that it signed the mandate agreement with its new Chief Executive Officer (CEO), Dan Petrișor. The appointment decision was made by the Board of Directors on October 31, and the […]

Rents continue to increase in many cities in Romania as financing becomes inaccessible

Renting is steadily becoming more common in Romania, as access to credit becomes increasingly difficult. As such, even though rents traditionally tend to decrease in October, this year they have kept steadily increasing in most major cities. Traditionally, the demand for rentals increases in August and September, when students return to the major university cities. […]

Report: Logistics and industrial space demand up 30% in Romania in first nine months of 2025

Demand for logistics and industrial space in Romania reached 750,000 square meters in the first nine months of 2025, a 30% increase compared with the same period last year, according to the Romania Industrial Marketbeat Q3 2025 report by real estate consultancy company Cushman & Wakefield Echinox. If the current pace continues, the total volume […]

Documentary Mondays, Fiction Tuesdays: Contemporary and classic European films screened at Czech Center in Bucharest

Documentary Mondays and Fiction Tuesdays, the programs of the Czech Center in Bucharest, return between November 10 and November 25 with screenings of six contemporary and classic European films. Documentary Mondays, the Czech Center's longest-running film program, proposes documentaries that reflect on the present, memory, trauma, and the ways in which we relate to the […]

Booking Holdings, Servier Pharma and JYSK lead 2025 Undelucram.ro ranking of top employers in Romania

Booking Holdings Romania, Servier Pharma, JYSK Romania, Schneider Electric, and Deichmann are the most appreciated companies by their own employees, according to Top Employers Undelucram.ro 2025. The list is based exclusively on feedback from employees rather than public image or marketing perception. The ranking made by Undelucram.ro, a leading online employee community in Romania, is […]

Constanța joins list of cities in Romania to ban New Year’s Eve fireworks

On New Year’s Eve, the local authorities in Constanța will no longer organize the traditional fireworks display. The decision was made to protect animals as well as the environment. The seaside city of Constanța thus joins a growing list of cities in Romania to ban fireworks, Digi24 reported. Cluj-Napoca, Ploiești, Iași, and Brașov...