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FinMin Citu: there will be another budgetary adjustment until the end of the year

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The minister of finances Florin Citu announced on Wednesday that there will be another budgetary adjustment before the end of the year. He also stated that without the crisis in health, the budgetary deficit would be 1.93% at present, being 5.18% of GDP.

 

I watch the budgetary implementation every month and as things are, there will be need for another budgetary adjustment before the end of the year’ stated on Wednesday the minister of finances Florin Citu in a press conference.

 

As regards the budget for 2021 the official said that it wil be approved by the next government which comes after 6th December. ‘We faced a strong negative shock, unpredictible, nobody expected it, and we performed very well, so I am confident that anything could come our way we will face it and we are prepared now. I don’t see any scenario where we could go back to the situation in March or April’ Citu said.

Similarly, minister Florin Citu said that it is possible that in the second part of the year state bonds on the Stock Exchange will be issued for the population.

 

Moreover, the official said that there will not be any increases of the taxes or interest in order to keep the balance of the budget.

 

As regards the budgetary deficit which got to 5.18%of the GDP in the first eight months - 54.77 billion lei, Citu says that without the crisis in health it would be 1.93% of GDP.

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Thursday, October 1, 2020