Revenues, at the end of this year, are estimated at around 337 billion lei, 32.2% of GDP, the Minister of Finance, Florin Cîţu, declared on Wednesday in a press conference, announcing that, after ten months, the strategic investments are 35.4 billion lei, more than was invested throughout the year in 2016, in 2017 or in 2018, according to Mediafax.
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"Revenues, at the end of this year, are estimated at around 337 billion lei, 32.2% of GDP, of which 298 billion lei or 27.4% of GDP in the economy and 39 billion in non-reimbursable funds. Because both the general consolidated budget revenue and the economy are higher than last year's consolidated budget revenue, so in a time of crisis, when the economy is shrinking by 4.2%, we have succeeded, or we estimate, so far we have succeeded in 10 months, but we also estimate for the end of the year, higher budget revenues than last year, at a time when the economy was growing. All this year we have been very careful to pay our bills on time, which are the most important chapters in the rectification.For the state social insurance, the budget is supplemented with approximately 1.8 billion lei, this is about the recalculation of pensions - you know very well that there are all kinds of files that come after and must be recalculated with an increase of 14%, some of them - , as well as for the payment of the active measures approved to combat the negative effects created by the Covid-19 pandemic, technical unemployment, the extent to which 41.5% of the employee's salary, gross salary and flexible work are paid ", Cîţu announced.as well as for the payment of the active measures approved to combat the negative effects created by the Covid-19 pandemic, technical unemployment, the extent to which 41.5% of the employee's salary, gross salary and flexible work are paid ", Cîţu announced.as well as for the payment of the active measures approved to combat the negative effects created by the Covid-19 pandemic, technical unemployment, the extent to which 41.5% of the employee's salary, gross salary and flexible work are paid ", Cîţu announced.
All this is in the state insurance budget, he says.
"And for local budgets we continue the SWAP mechanism, it was initially approved by GEO 135 of 2020. We allow local authorities to pay their outstanding payments recorded in the accounts, it was July 30, we extended this period until September 30. It is of 969.3 million lei ", the official added.
Cîţu spoke about specialists who in 2008 were not able to see the economic crisis even in the middle of the crisis, but who today come and tell us that this economic growth that all Romanians have worked on "is not enough or is disappointing or is not what what is needed and all sorts of comparisons appear ".
"First of all, we have to compare ourselves with the evolution of the economy and we have said very clearly the economic growth in the third quarter is the highest economic growth - here are the INS figures - in the last 20 years and shows the fastest recovery after an economic crisis. There were other economic crises in Romania and the economy was recovering after 3-4 years, here it recovered after the first quarter, but after that I saw comparisons with other states in the European Union, I don't see the meaning of these comparisons, because there are different savings, but if they are still done, then let's do them correctly ", the official specified.
He presented a graph showing the dynamics of GDP in Romania in the first three quarters of 2020 relative to the first three quarters of 2019.
"We see that Romania is better than the EU average, it is not a champion, but it is at the top, so we are better than other EU countries and it is above average. So the information that we would be in line is false. I repeat, so of analysis do not make much sense, because there are different policies, different decisions, but for Romania the most important thing is that we have had the highest economic growth in the last 20 years.And this remains because we compare ourselves with all those who have (...) This is the real information, so all those comparisons we've seen lately are just trying to denigrate. The information is from Eurostat and should be taken as such. ", mentioned Cîţu.
He states that for Romania, the most important thing is that it has the fastest economic recovery in the last 20 years and the highest quarterly economic growth.
"We will now talk about the budget rectification, which we are doing to ensure that health, social assistance, education have the necessary money by the end of this year and, at the same time, the rectification has the role of providing funding for continued investment, which in this year are estimated at 55 billion lei, is the largest amount invested from the budget in the last 10 years! After 10 months, strategic investments - 35.4 billion lei, more than was invested throughout the year in 2016, in 2017 or even in 2018 ", the minister added.
For this budget rectification, a decrease in the economy of 4.2 percentage points was taken into account.
and a budget correction with a budget deficit of 6.7% of GDP was approved. Taking into account the budget execution, we made another rectification, where the budget deficit was increased to 8.6% of GDP. Based on the execution we have seen so far, the Ministry of Public Finance proposes a budget rectification for 2020 with a budget deficit of 9.1% of GDP, respectively 96 billion lei, built on an economic contraction of 4.2% for this year. So at the beginning of the year there was an estimate of economic growth of 4.2% in the budget, now we are at a contraction of 4.2. It is a difference of 8 percent, which is, of course, also in deficit! The deficit of the general budget thus consolidated increases by 5 billion lei ", he specified. we made another rectification, where the budget deficit was increased to 8.6% of GDP. Based on the execution we have seen so far, the Ministry of Public Finance proposes a budget rectification for 2020 with a budget deficit of 9.1% of GDP, respectively 96 billion lei, built on an economic contraction of 4.2% for this year. So at the beginning of the year there was an estimate of economic growth of 4.2% in the budget, now we are at a contraction of 4.2. It is a difference of 8 percent, which is, of course, also in deficit! The deficit of the general budget thus consolidated increases by 5 billion lei ", he specified. we made another rectification, where the budget deficit was increased to 8.6% of GDP. Based on the execution we have seen so far, the Ministry of Public Finance proposes a budget rectification for 2020 with a budget deficit of 9.1% of GDP, respectively 96 billion lei, built on an economic contraction of 4.2% for this year. So at the beginning of the year there was an estimate of economic growth of 4.2% in the budget, now we are at a contraction of 4.2. It is a difference of 8 percent, which is, of course, also in deficit! The deficit of the general budget consolidated in this way increases by 5 billion lei ", he specified. respectively 96 billion lei, built on an economic contraction of 4.2% for this year. So at the beginning of the year there was an estimate of economic growth of 4.2% in the budget, now we are at a contraction of 4.2. It is a difference of 8 percent, which is, of course, also in deficit! The deficit of the general budget consolidated in this way increases by 5 billion lei ", he specified. respectively 96 billion lei, built on an economic contraction of 4.2% for this year. So at the beginning of the year there was an estimate of economic growth of 4.2% in the budget, now we are at a contraction of 4.2. It is a difference of 8 percent, which is, of course, also in deficit! The deficit of the general budget thus consolidated increases by 5 billion lei ", he specified.
Cîţu stated that this increase comes from the authorities' estimate that we will not collect 4.2 billion lei in the last part of the year.
is supplemented at the Ministry of Development with 1 billion lei, for invoices in the National Local Development Program, 1.1 billion lei for subsidies in agriculture, from non-reimbursable external funds, 160 million lei for compensation of agricultural producers in the plant sector affected by drought, 1.2 billion lei supplementation of the Reserve Fund available to the Government. These are the main expenses, and there are, of course, several ministries where there will be savings ", said Cîţu. 2 billion lei supplementation of the Reserve Fund available to the Government. These are the main expenses, and there are, of course, several ministries where there will be savings ", said Cîţu. 2 billion lei supplementation of the Reserve Fund available to the Government. These are the main expenses, and there are, of course, several ministries where there will be savings ", said Cîţu.
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