Romania's Finance Ministry published the budget bill for 2020 on Tuesday. It is based on prospects of 4.1% economic growth with an average yearly growth of 4.1% for 2021-2023, considerably higher than European averages.
Ministerul Finantelor PubliceFoto: Hotnews
Investments are expected to cover 4.5% of the GDP, 6.3 million lei more than in 2019.
The budget projections are based on a budget deficit target of 3.58%, expected to fall to 1.94% in 2023.
Several institutions will have higher allocations, while others considerably lower ones.
- Ministries with bigger budgets: Labour, Transport. Defence (+18%), Education, Interior (+13%).
- Ministries with diminished budgets: Health, Regional Development and Public Administration (-45.5%), Agriculture and Rural Development, Economy (-11%), Finance (-19%), Foreign Affairs (-16.4%)
- All intelligence services will have more money to spend than in 2019
