Wallachian Gazette

Wallachian Gazette

🇷🇴⚠️📈 According to the National Bank of Romania, the public debt grew by 4.3 billion EURs in January 2024. The total debt is now worth 173.126 billion EURs and the budget deficit grew by 78%, with a gap of 1.358 billion EURs between the revenues collected…

🇷🇴⚠️📈 At the end of March 2024, the Romanian government already recorded a 2% budget deficit, a deficit way bigger than expected.

The Romanian government overspent by 36 billion Romanian lei, or 2% of the expected GDP of 1.700 billion Romanian lei (~340 billion EURs). If the government continues to spend at this rate, it will be impossible to reach the 5% deficit target.

Prime minister, Marcel Ciolacu and finance minister, Marcel Boloș, defended this overspending by blaming recent military acquisitions and infrastructure related spending which were scheduled to be paid this year according to the National Recovery and Resilience Plan (PNRR).

In regards to the military spending, that is simply false:

🔸 Romanian military spending has been on the decline since 2020 !! Yes, military spending is up, but only by 10% compared to the first three months of 2023 and it is mostly represented by delayed acquisitions which should've been done in the last months of 2023.If anything, Romania is behind its defense spending target.

🔸 Infrastructure spending has increased by 7% and, worth remembering that some of these funds are not actually coming from the coffers of the ministry of finances but rather from Brussels.

🔸 Actual overspending comes from salary and goods & services which rose by 20%, 9% bigger than the predicted spending.

🔗 https://www.zf.ro/eveniment/de-unde-vine-deficitul-bugetar-record-din-primul-trimestru-din-2024-22384135

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De unde vine deficitul bugetar record din primul trimestru din 2024: nu vine din cheltuielile pentru armată cum susţine guvernul…

Guvernul Ciolacu a făcut, la trei luni din 2024, un deficit bugetar record, de 36 mld. lei, adică 2% din PIB-ul care ar urma să fie de aproximativ 1.700 mld. lei (340 mld. euro) în 2024. Cu mai multe ocazii, premierul sau alţi membri ai cabinetului de miniştri…

www.tg-me.com/in/Wallachian Gazette/com.Wallachian_Gazette/5980

825 viewsMay 24 at 15:51

🇷🇴⚠️📈 At the end of March 2024, the Romanian government already recorded a 2% budget deficit, a deficit way bigger than expected.

The Romanian government overspent by 36 billion Romanian lei, or 2% of the expected GDP of 1.700 billion Romanian lei (~340 billion EURs). If the government continues to spend at this rate, it will be impossible to reach the 5% deficit target.

Prime minister, Marcel Ciolacu and finance minister, Marcel Boloș, defended this overspending by blaming recent military acquisitions and infrastructure related spending which were scheduled to be paid this year according to the National Recovery and Resilience Plan (PNRR).

In regards to the military spending, that is simply false:

🔸 Romanian military spending has been on the decline since 2020 !! Yes, military spending is up, but only by 10% compared to the first three months of 2023 and it is mostly represented by delayed acquisitions which should've been done in the last months of 2023.If anything, Romania is behind its defense spending target.

🔸 Infrastructure spending has increased by 7% and, worth remembering that some of these funds are not actually coming from the coffers of the ministry of finances but rather from Brussels.

🔸 Actual overspending comes from salary and goods & services which rose by 20%, 9% bigger than the predicted spending.

🔗 https://www.zf.ro/eveniment/de-unde-vine-deficitul-bugetar-record-din-primul-trimestru-din-2024-22384135