The revision was approved despite opposition from the country’s defense council.
The government cut funding from secret services and the president’s office. It also cut funding from the ministries of labor, foreign affairs, energy, economy, the ministry for the business environment and from tourism. It raised funding for regional development, agriculture, transport, interior affairs, finance, health and education.
According to the draft budget revision published early September, the government estimates additional revenues to the consolidated budget of RON8.8 billion and additional expenses of RON9.9 billion, raising the budget deficit from RON26.9 billion to RON28 billion. It also estimates a higher gross domestic product for 2018, thus keeping the deficit target at 2.97% of GDP, below the EU-limit of 3%.
Romania’s general consolidated budget posted a deficit of RON11.9 billion, or 1.26% of the gross domestic product (GDP), in the first seven months of 2018.