On August 6, the Ministry of Public Finances put up for debate the budget adjustment (general budget & social insurance budget). The official press release informs that the positive adjustment keeps under the deficit target (2.97%) with a GDP growth of 5.5%. In nominal terms, the GDP advanced to RON 945 billion from the initial estimation of RON 907.9 billion.
As announced by PM Dăncilă in the sitting held on August 2 when the adjustment was first presented, additional funds go to local budgets (RON 1,125.9 million), Ministry of Health (RON 333.6 million), Ministry of Finances (RON 1,278.8 million), Ministry of Interior, National education, Transports, Agriculture, SGG, FNUASS, Social Insurance Budget.
On August 6, the Central Bank decided to maintain the key interest rate at 2.5%. Two days later BNR Governor Mugur Isărescu presented the August report on inflation. The main message was against stimulating the demand, as it will lead to higher imports. The Governor also pointed out that the GDP growth is rather closer to the 4% tier than to the 5.5% announced by the Government.
In the context of the budget adjustment and of the growing risk of exceeding the deficit, considering BNR’s warnings on inflation, the Government put up for debate the new Pension Law. According to Minister of Labor Lia Olguța Vasilescu, the retirement age remains unchanged. The pension budget will also have to be increased by RON 15 billion by 2022, Minister Vasilescu also highlighted on Friday, August 10, as “pensions will be doubled.”
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