Premium
The figures for April are better than we expected, and the revenues are higher than in 2019, Minister of Finance Florin Citu told private TV broadcaster Realitatea Plus.
"It is true that I looked at the figures for April. They are better than we expected, revenues are higher than in 2019, but at the same time, the estimated deficit for this year is double. So, on the one hand, we have a better revenue situation than we would expect, but at the same time the situation is not rosy, because spending has risen a lot. Now I tell you: not only the payment of pensions and salaries, not only these chapters of budget execution depend on the budget execution. All expenditures do. And we must monitor the budget execution every month and we are careful in terms of expenditures not to unbalance the financial situation. Until now, with all the obstacles laid down by these people in Parliament and all sorts of bombshells they threw in the public space, we managed to pay all the pensions, salaries, social benefits - even if they increased spending and furlough - on time. Some even earlier," Citu said.
The minister stressed that the current Executive has managed to borrow at interest rates by one percentage point lower than the Social Democratic Party (PSD) Government did and gave assurances that it will continue to "follow the same strategy" and they will support the sectors of the economy that have the highest yield.
"Regarding pensions, the statement was '2 or 3 scenarios'. (...) We are cautioned by the rating agencies, by the central bank, by all kinds of international institutions, by the European Commission. They all came with different scenarios - and there are some where we all agree - that the economy will decline this year, but it will have an equally strong recovery, while at the same time we are warned that a sharp rise in spending - and it is not just about pensions - would strongly unbalance, with long-term implications, Romania's finances and we are very careful," the minister said.
Citu said again that there will be a reassessment of budget expenditures in the middle of the year and then the optimal decision will be made "for this moment we are going through today, this moment in history when we have to manage a double crisis - a health one and an economic one".
"We will make the best decision for the citizens, but also for the public finances. This is not just about pensions, it is about all the expenditures. We must be careful because it is very easy to promise on paper (...)", said Citu.
