{"id":6603,"date":"2025-09-03T07:01:53","date_gmt":"2025-09-03T07:01:53","guid":{"rendered":"https:\/\/ofero.news\/?p=6603"},"modified":"2025-09-03T07:01:53","modified_gmt":"2025-09-03T07:01:53","slug":"romanian-prime-minister-expects-public-deficit-over-8-of-gdp-this-year-budget-execution-was-worse-than-expected","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=6603","title":{"rendered":"Romanian prime minister expects public deficit over 8% of GDP this year: &#8220;budget execution was worse than expected&#8221;"},"content":{"rendered":"<p>Defending the tougher-than-initially-planned measures in the second reform package, Romanian prime minister <strong>Ilie Bolojan<\/strong> explained that a budget deficit of nearly 10% can not be addressed with soft measures and estimated that the gap will remain above 8% of GDP this year.\u00a0<\/p>\n<p>The statement marks a marginal worsening from his previous statements in August, when an 8% deficit was also mentioned.<\/p>\n<p>&#8220;The budget&#8217;s situation was worse than we knew two months ago when we took over the office,&#8221; PM Bolojan said, as reported by <a href=\"https:\/\/www.digi24.ro\/stiri\/actualitate\/politica\/ili-bolojan-prima-conferinta-de-presa-dupa-ce-a-amenintat-cu-demisia-declaratiile-premierului-in-direct-la-digi24-ro-3395597?mc_cid=171acb0ca2&amp;mc_eid=cd1f92f96c\" target=\"_blank\">Digi24<\/a>.<\/p>\n<p>&#8220;Since then, we have adopted several measures to reduce the deficit, attract EU funds, and correct injustices,&#8221; he added.<\/p>\n<p>The two rating agencies, having already affirmed Romania&#8217;s fragile rating just above the non-investment area, expressed expectations for a budget deficit of around 7.5% of GDP \u2013 but this is in ESA terms.\u00a0<\/p>\n<p>In principle, the ESA deficit should be lower than the cash deficit [targeted by PM Bolojan], but the differential is shrinking as the government will have to defer again some payments \u2013 a strategy that resulted in the wide ESA-cash differential last year [8.65% cash deficit versus 9.3% of GDP ESA deficit].<\/p>\n<p><em>iulian@romania-insider.com<\/em><\/p>\n<p><em>(Photo source: Inquam Photos\/Malina Norocea)<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Defending the tougher-than-initially-planned measures in the second reform package, Romanian prime minister Ilie Bolojan explained that a budget deficit of nearly 10% can not be addressed with soft measures and estimated that the gap will remain above 8% of GDP this year.\u00a0 The statement marks a marginal worsening from his previous statements in August, when [&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-6603","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/6603","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=6603"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/6603\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}