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February 5, 2023

Former PM Mihai Tudose, about postponing the adoption of the budget: There’s no money; the much-invoked increases and investments are chimeras

Former PM Mihai Tudose stated on Wednesday that the adoption of the budget is postponed because there’s no money. “Every passing month based on the last year’s budget, which is much lower, saving the expenses of this year”, Tudose said and mentioned that “the muck-invoked increases and investments are chimeras”.

“A new day without budget, we have a wonderful country, a beloved who takes vitamin D, maybe the budget will be finished”, former PM Mihai Tudose stated on Wednesday.

Asked why the adoption of the budget is postponed in his opinion, Tudose said: “I told you and I repeat: there’s no money! This is a chimera. Every passing month is based on the last year’s budget, which is much lower than needed, saving the expenses of this year. Look at the much-invoked increases and investments, they are chimeras, they are commitment appropriations”.

The 2019 draft budget was published on January 31 by the Finance Ministry. The budget projection is built on a gross domestic product of RON 1,022,500 million, an economic growth target of 5.5%, an inflation rate of 2.8%, a cash budget deficit estimated at 2.55% of the GDP, and an expected deficit of 2/57% of the GDP.

Finance Minister Eugen Teodorovici stated on Saturday for Digi 24 that the draft budget will be approved on Tuesday by the Government and sent to the Parliament on the same day, which didn’t happen.

The Fitch rating agency warned that the 2019 draft budget is based on optimistic assumptions and does not clarify the uncertainty related to the bank assets tax.

Fitch warns that the presidential elections of 2019 will make it difficult to reduce expenses if the revenue advance is not in line with the Government’s forecasts.


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