“Under the Constitution, the Government must submit the state budget bill to Parliament by October 15. I assure you the bill is finalized but was not submitted to Parliament because two very important parameters, namely the economic growth and the budget deficit, could not be set,” said Oltean.
He added the deficit is subject to negotiation with the International Monetary Fund and the EU, while economic growth is to be established by the EU for each member state.
“We hope to have these factors available by Monday and submit the bill to Parliament by November 1, so it may be adopted before winter recess,” Oltean also said.
A joint mission of the IMF, European Commission, and the World Bank will be in Romania next week to review the country’s stand-by precautionary loan agreement.