The Government approved two normative acts of special importance for the adoption of the State Budget Law and the Social Insurance Budget Law, announced on Friday the Minister of Finance, Adrian Caciu, who mentioned that Romania, in 2022, will maintain the downward trajectory in the excessive deficit procedure.
"Today, from the perspective of the Ministry of Finance, two normative acts of special importance for the adoption of the State Budget Law and the Social Insurance Budget Law were passed, respectively the Law on cappings for 2022, of some indicators specified in the fiscal-budgetary framework for 2022 and the ordinance on some fiscal-budgetary measures, the extension of some terms. Romania, in 2022, will maintain its reduction trajectory of deficits, within the excessive deficit procedure. Thus, the deficit for 2022 in cash terms will be 5.84%, and the ESA deficit will be 6.2%, as it is the commitment made before the European Commission. From the perspective of the capping on staff costs, it will be reduced as a share of GDP and will be 8% of GDP, compared to 9.4% in 2021", said Caciu at the end of the Government meeting, Agerpres.ro informs.
Also, the capping for government debt expressed as a share in GDP according to the EU methodology for 2022 is 49.8% of GDP, and the capping for guarantees for government programs for 2022 is 30 billion lei.
Caciu specified that the structural deficit is estimated at 5.71% of GDP, which represents a continuation in 2022 of the adjustment of this deficit towards the medium-term budgetary objective started in 2021.