ECONOMY FINANCE&BANKING

PM Orban: I understand the Fiscal Council’s concerns, but regarding 2020 there is no risk for the budget deficit to double

Prime Minister Ludovic Orban said on Thursday that he understands the concerns expressed by the Fiscal Council regarding the possible increase of the budget deficit, but assured that “there is no risk” for this to happen in 2020.

Asked what the government’s position is regarding the Fiscal Council’s opinion that the budget deficit will double if the pensions are increased by 40 percent, the Premier said that “the answer is the budget blueprint itself, at the ‘Expenditures’ chapter it provides for the additional amounts required for increasing the pensions according to the Pension Law, and the projected deficit is 3.59 percent. As such, I understand the Fiscal Council’s concerns, but regarding 2020 there is no such risk. We have also made the budget projection for 2021 and there is no danger for the budget deficit to widen. Of course we must also follow the economic developments, we must follow the evolution of the collections to the state budget, we also have a plan to improve collection and fight tax evasion in order to make sure that tax collection improves. We haven’t examined yet the report of the Fiscal Council, but we’ll do that,” said Ludovic Orban.

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