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“Not only we have not died, we rank third in the world” – Government approved second budget amendment, deficit of 2.96% of GDP

de Victor Bratu , 20.11.2017

The second budget amendment this year has been adopted at the government meeting on Wednesday. As the Finance Minister assures, this amendment is “positive”, the same as the first one, and followed the objective of “maintaining within the 2.96% deficit”.

As you know, there are several categories of budgets, some of them have a surplus, some are on deficit but overall there is a surplus of revenues, so that everyone to understand why this is a positive amendment,” said the Finance Minister in the opening of the government meeting.

A very good news (…) or bad news for those who wished for our tragic end in torment – 8.8 economic growth in the third quarter, compared to the third quarter of last year, which makes us optimistic and hope for a total increase in 2017 even of about 6. Not only we have not died, as some people wanted, on the contrary, we are enviable, as we rank third in the world,” Prime Minister Mihai Tudose also said.

With the second rectification, the level of expenditures has been increased by RON 503.8 million in the balance. Additional funds have also been ensured for local budgets: RON 611.9 million.

  • Ministry of Labour and Social Justice receives RON 630.9 million for the payment of the rights of the disabled, state allowances for children, allowances for child raising and health insurance contributions related to the indemnities. Another RON 115 million represent balancing transfers to the state social insurance budget.
  • Ministry of Internal Affairs, a balance increase of RON 363.5 million and RON 380 million are for the payment of state military pensions due to the demobilised military personnel and policemen who ceased their service in 2017.
  • Ministry of Transport, an extra amount of RON 293.9 million, the amount of RON 345.6 million has been additionally provided for the national co-financing and non-eligible expenditures related to projects financed by external non-reimbursable funds related to the previous European financial year.
  • Ministry of Health, an increase of RON 281.0 million per balance, an additional RON 287.2 million being provided, mainly for health programs and actions, also for the payment of resident doctors and medical staff in the emergency reception structures.
  • For the Ministry of Justice, an additional RON 232 million in the balance, a supplement of RON 240.2 million for the payment of the instalments relating to 2017 for the court decisions concerning the salary rights established in favour of the personnel from the judicial system.
  • Ministry of Education, an additional RON 30 million in the balance, a supplement of RON 50 million for the payment of court decisions concerning the salary rights for the personnel from state university education institutions.
  • The budget of the single national health insurance fund received a supplement of RON 269.7 million for medical services and medicines.
  • The state social insurance budget, an additional RON 323 million for ensuring the needed amount to pay the social insurance pensions.

As in any amendment, there are also “ministries that have failed to fully spend a part of the money or, for some reasons, have no more the capacity to use this money by the end of the year”:

  • Ministry of Business Environment, Trade and Entrepreneurship (-RON 78.5 million)
  • Ministry of Public Finance (-RON 52.9 million)
  • Ministry of Regional Development, Public Administration and European Funds (-RON 43.7 million in the balance), with the mention that an extra RON 71.5 million has been allocated to the ministry for PNDL
  • Ministry of Culture and National Identity (-RON 27.8 million)
  • Ministry of Environment (-RON 27.4 million)

Minister Ionut Misa concluded: “We are within the deficit of 2.96%, previously discussed with the international bodies, and this is a stability element at the macroeconomic level for Romania.”

According to the head of the executive, estimates for next year also look very well.

As we are talking about economic and budget increases, another bad news (…) – bad for those who do not love us, good for those who are in good faith: this year’s budget, the implementation of this year’s budget will close below 3% and (…) we are not very bad next year either, on the contrary, figures look very well,” said Mihai Tudose.

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