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October 6, 2022

FinMin Stefan: Good news is budget closed in excess in first two months of 2017

Minister of Public Finance Viorel Stefan stated on Tuesday that the budget closed in excess in the first two months of the year.

“Just as it was set out, analyses are carried out weekly on the level of Prime Minister in respect to achieving budget revenues and budget execution. We looked at the last analysis, on the final results in the first two months of the year. The good news is that the budget closed in excess in the first two months, to be honest it’s not spectacular, but it’s very important, in excess. Despite all the prophets who foresaw a disaster, there you go, we are on excess in the first two months,” the Minister stated at the Parliament Palace.

He stated that for the first quarter higher collections are foreseen compared to last year.

“Certainly higher collections and my statement is based on the saying that I made looking at the development of macroeconomic indicators. Therefore, the salary mass is on a spectacular increase, over 22 percent in the first two months, generated by the growth of the salaries’ levels, on one hand, and, on the other hand, by the growth of the number of jobs. This means that we will have consistent collections on the salary tax and social contributions, because we all know the old discussion about the sustainability of the pensions fund. The trend is encouraging. Therefore, if we take a look at the execution of the last period, we will see that in the necessary transfer from the state budget for supporting the pensions fund, the amount is decreasing,” Viorel Stefan mentioned.

The Finance Minister revealed that he didn’t feel any pressure coming from the Social Democratic Party (PSD) leader in order to maintain the measures of the governing programme, nor that his position is in danger.

“I didn’t notice any serious reason relating to these rumors. If we are talking about the statement that I made on the occasion of launching the Country Report, it wasn’t a statement, it was a report that I made regarding the Country Report in which I assessed different scenarios and made those statements ultimately just in case those scenarios won’t get confirmed and the imminent possibility of exceeding the deficit will occur, certainly we have to be prepared to intervene on expenditure. The questions I was asked removed from the context of my statement a certain shade that wasn’t the most important,” he mentioned.


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