The Ministry of Public Finance published the budget revision draft for public debate on August 11.

The general government budget deficit target is maintained at 5.8% of GDP.

According to the draft, revenues will be revised upwards by RON 29.94 bln, the expenses by RON 32.59 bln, and the general government budget deficit (cash terms) will increase by RON 2.65 bln compared to the initial budget planning inked in December 2021.

Initially, revenues were projected at RON 440 bln, and expenses were planned at RON 517 bln resulting in a general government budget deficit of 77 bln.

The GDP was expected to rise by 4.7% in real terms to RON 1,317 bln.

Currently, the national forecasting body CNP projects a 3.5% GDP growth to RON 1,373 bln. Consequently, the budget revision maintains the budget deficit target of 5.8% of GDP. 

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andrei@romania-insider.com