“European Commission officials released the recommendations on excessive deficit for Romania. I am very glad to tell you that our fiscal-budgetary strategy, stipulating the return of the consolidated budget deficit below 3% in 2024, was accepted as principal strategy”, said Citu.
The prime minister added that his Cabinet enjoys the European officials’ confidence.
The Romanian Government projected a deficit of RON80 billion in 2021, representing 7.16% of the gross domestic product (GDP), lower by over RON20 billion or nearly three percentage points compared with the 2020 level 2020, as a share in the GDP.
Romania’s general consolidated budget posted a deficit of RON20.7 billion in January-April, or 1.81% of the GDP, lower compared with RON26.8 billion, or 2.54% of GDP, in the same period last year, when the economy was mostly shut down by the pandemic.