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RON 13.6 bn Budget Reserve Fund allocation for education, health, social assistance benefits, pensions
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.