{"id":393,"date":"2024-06-05T06:10:01","date_gmt":"2024-06-05T06:10:01","guid":{"rendered":"https:\/\/ofero.news\/?p=393"},"modified":"2024-06-05T06:10:01","modified_gmt":"2024-06-05T06:10:01","slug":"romanias-public-deficit-reportedly-hits-3-43-of-gdp-in-january-may","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=393","title":{"rendered":"Romania\u2019s public deficit reportedly hits 3.43% of GDP in January-May"},"content":{"rendered":"<p>Romania\u2019s general government budget reached 3.43% in January-May, edging up against the government\u2019s expectations from 3.24% in January-April, according to preliminary data published by <a href=\"https:\/\/www.profit.ro\/taxe-si-consultanta\/exclusiv-deficitul-pentru-primele-5-luni-luna-mai-nu-a-fost-una-cu-excedent-cum-spera-guvernul-21616256?mc_cid=9bd522d1fe&amp;mc_eid=cd1f92f96c\" target=\"_blank\" rel=\"noopener\">Profit.ro<\/a>.<\/p>\n<p>In April, the government paid in advance pensions accounting for some 0.6% of GDP and reportedly expected to report a monthly surplus in May.<\/p>\n<p>In absolute terms, 3.43% of GDP deficit in January-May means that the public gap has widened by 64% y\/y in nominal terms to RON 60.6 billion (EUR 12.2 billion) in the first five months of the year.\u00a0<\/p>\n<p>Part of the deviation from the planned gap, reflected by its impressive 64% y\/y advance, can be attributed to the delayed disbursements from the EU budget under the Resilience Facility and defence spending deferred from 2023 to the first months of this year.<\/p>\n<p>The government officially targets 5% of GDP public deficit this year, down from 5.7% in 2023. However, the independent projections put the gap at nearly 7% (6.6% of GDP under the European Commission\u2019s latest forecast).<\/p>\n<p>Reflecting the discretionary rise in public wages, the pension reform, and the strong public investments and despite the first fiscal corrective package passed in 2023 (with a positive impact of 1% of GDP this year), Romania\u2019s budget deficit will rise from 6.6% of GDP last year to 6.9% of GDP this year (ESA terms), according to the European Commission publishing the Spring 2024 Economic Forecast.<\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>\n<p><em>(Photo source: Vlad Ispas\/Dreamstime.com)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Romania\u2019s general government budget reached 3.43% in January-May, edging up against the government\u2019s expectations from 3.24% in January-April, according to preliminary data published by Profit.ro. In April, the government paid in advance pensions accounting for some 0.6% of GDP and reportedly expected to report a monthly surplus in May. In absolute terms, 3.43% of GDP [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-393","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=393"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/393\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}