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August 8, 2022

Ministry of Finance: 2022 state budget, built on cash budget deficit target estimated at 5.8 pct of GDP

The 2022 state budget was built on a cash budget deficit ratio estimated at 5.8 pct of the Gross Domestic Product and ESA deficit estimated at 6.2 pct of GDP, according to the draft law for the approval of the ceilings of some indicators specific to the fiscal framework for 2022, published on Friday by the Ministry of Finance (MF).

The spending with the personnel is estimated at 8.8 pct of GDP next year, while for 2023, the budget balance will be 4.4 pct of GDP and personnel expenditures 8.2 pct of GDP.

The proposed ceiling for government debt, according to the EU methodology, is 49.8 pct of GDP. This ceiling is mandatory for 2022, the Ministry of Finance said.

“In 2022, the ceiling on reimbursable financing, which can be contracted by the administrative-territorial units/subdivisions, is in the amount of RON 1,600 million, and the ceiling on drawings from the reimbursable financing contracted, or to be contracted by the administrative-territorial units/subdivisions, is in the amount of RON 2,000 million each,” the MF document reads.


President Iohannis: I expect the 2022 budget to to be realistic, clear and well-founded


President Klaus Iohannis said on Thursday that he expects the 2022 budget to be realistic, clear and well-founded.

“Let’s see the draft of this budget first. It will not be a high-spending budget, because if we want to meet the deficit that we have set for ourselves and we want, we will need a very realistic budget. This has been discussed a few times, and at least at the Government level it is very clear that the budget needs to be realistic, clear and well-founded. That is what I expect from this budget. If it is built as it was promised, I don’t see any problem now in promulgating such a budget,” the head of state said before attending the European Council meeting, when asked what he thinks of the budget construction so far and whether the budget could be promulgated by the end of the year, according to the Agerpres correspondent in Brussels.

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