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FinMin Citu: the package for economy support will surpass 7% of GDP until the end of the year
The package for economy support will surpass 7% of GDP until the end of the year as in the first nine months the state injected in the economy 3.5 billion lei, 3.2% of the GDP announced on Sunday the minister of finances, Florin Citu.
According to him, Romania will manage to avoid technical recession in 2020.
‘The package for economy support will surpass, listen, 7% of the GDP until the end of the year. In the first nine months we have already injected supplimentarily in the economy 34.5 billion lei (3.2% of GDP)’ writes the minister of finances on his page on Facebook.
According to the quoted source, the fiscal measures represented 14,4 billion lei. The bonuses for the payment of the taxes for profit were worth 250 million lei, reimbursements of VAT were higher by 3.2 billion lei against last year and the expenses in investments increased by 6.9 billion lei.
Expenses directly connected to COVID-19 gathered 9.8 billion lei.
‘These expenses from the budget will be accompanied with guarantee programmes of 30 billion lei - 2.9% of GDP. It is money that gets into the economy through the banking financial system and is guaranteed by the state. We do not stop here. This massive programme for the stimulation of the economy stopped the decline of the economy in 2020 ( we avoid technical recession) and guarantees strong economic growth in 2021’ the minister of finances said.