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January 28, 2023

FinMin Teodorovici: Budget revision might pass in early August

Finance Minister Eugen Teodorovici said on Thursday that there is no time for the budget revision to be approved July 31, as initially planned, but the government could pass it a week later.

He attended the release of 2019 edition of the White Paper on SMEs in Romania by the National Council of Romania’s Small and Medium-Sized Enterprises, and was asked by journalists upon leaving, when the budget rectification will take place.

“There are a few things to be completed first. Revision approval by the government depends on the Supreme Council for National Defence (CSAT) approving it first. CSAT will convene next week, which means that the revision will not take place on July 31st, because there are several steps to be taken: CSAT, the Fiscal Council, the Economic and Social Council (CES), and then July 31 will probably not be a feasible date for revision, maybe the next week will be,” said Teodorovici.

He added that the revision bill could be published for public debate on Monday.

“Each of my minister colleagues will have to publicly state their situation. It is not the minister of finance coming up with the presentation of each ministry. I can present the macroeconomic elements and each minister presents its situation, what it has to do throughout the year, just to be able to answer all the technical elements,” Teodorovici said.

Journalists mentioned a statement by national chairman of the Alliance of Liberals and Democrats (ALDE), minor at rule, Calin Popescu-Tariceanu that his ministers were not invited to discuss the revision and might not approve it, with Teodorovici replying: “(…) We, all the ministerial colleagues will, of course, discuss at the same table.”

Teodorovici also said that the government deficit target for the end of the year is kept in place at 2.76pct of the Gross Domestic Product (GDP).

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