Senate's Ciuca: 2024 budget covers everything that the government wants to cover
The 2024 budget, with a nominal value of approximately 350 billion euros, covers everything that the governing coalition wants to cover in order to ensure the development of Romania, Senate president Nicolae Ciuca stated on Wednesday.
"The budget is going to be approved today and, as such, it is for the third consecutive year that Romania will have a budget before the start of the next year. The budget is built on an economic growth of 3.4pct, which, of course, doesn't say much, with an estimated increase from 1,591 up to RON 1,796 billion. This means a budget of approximately 350 billion euros (...), and I mean the nominal value of the GDP now. And this is an amount that covers everything that the current governing coalition needs to cover in order to ensure the development of our country in 2024," Nicolae Ciuca said during an interview with DC News.
He emphasized that next year's budget bets on investments.
"The budget is focused on increasing investments. Basically, it is our political move that makes the difference between an economy that was based on consumption until not long ago [and one relying on investments - editor's note], and I can give you the figures for the last 3-4 years to see what we've managed to achieve, in 2022 and 2023. thus, in 2022 we had an investment budget of RON 90 billion, in 2023 we increased it to RON 112 billion, and for 2024 we increased funds for investments to RON 124 billion, which means 7.3pct of the GDP. (...) We see that at the level of the entire country there is an effervescence in what it means to build roads, objectives that are under construction, everything related to the improvement of the road and railway infrastructure," said Ciuca.
He gave assurances that there will be funds for the increase of pensions next year and the other measures considered by the governors, stating that digitisation will play an important role in this process.
"The money comes, on the one hand, from economic growth, and we are talking about income from the economy, this being for the first time that the income from the economy will increase from 27 up to 29.6pct, which in nominal value means more than RON 35 billion. And there are also the other two projects that we undertook, the anti-evasion law, which according to the calculations of the Ministry of Finance will ensure an increase in revenues of approximately RON 10 billion, and Law no. 296, which, through its application, it will also ensures approximately RON 16 billion lei. As such, through a management as coherent and as applied as possible at the level of each state institution, we will ensure the necessary revenues to be able to cover for these expenses," said Ciuca.
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