Romania’s government took responsibility before the Parliament for the 2020 state budget and social security budget bills on December 23.
Romania’s 2020 state budget is based on a gross domestic product of RON1.129 trillion, a projected economic growth of 4.1% and a deficit of 3.59% of GDP.
The government sees average inflation at 3.1% in 2020 and the current account gap at EUR10.6 billion, or 4.5% of GDP.
The draft budget sees revenues at RON360 billion, or 31.89% of GDP, and estimates spending at RON400.69 billion, or 35.48% of GDP.