Romania’s Government, on the night of December 14 to 15, approved the budget planning for 2024 despite a negative opinion issued by the Fiscal Council on a preliminary draft. Furthermore, the Economic and Social Council (CSE) and the Legislative Council issued negative opinions.

The Government refused to comply with the Fiscal Responsibility Law 69/2010 provisions, which require the Prime Minister and Finance Minister to confirm in writing that the budget planning complies with a set of requirements that include the best practices in public financial planning.

The Fiscal Council pointed exactly to such failures of budget planning when criticising the preliminary draft submitted by the Government.

The Government targets a 4.9%-of-GDP budget deficit in 2024, but the Fiscal Council estimates that it will exceed the 5.9%-of-GDP estimate for 2023. 

(Photo: Gov.ro)

iulian@romania-insider.com