about us | newsletter | contact | archive | members area
Tibor Pandi, Citi Romania
"The Government crowds out the employment market"»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

2017 budget draft based on 5.2 per cent economic growth

The 2017 budget draft is based on a 5.2 per cent economic growth estimated for this year and above 5 percent over the entire 2018-2020-time frame, the (cash) budget deficit being forecast at 2.96 per cent of the GDP, and the annual average inflation rate, at 1.4 percent, according to a report released on the Public Finance Ministry's (MFP) website on Monday, says Agerpres.

2017-01-23 15:56:59

According to the document, the Gross Domestic Product (GDP) in 2017 is estimated at 815.198 billion RON (181.1 billion Euro), the revenues to the general consolidated budget, at 254.717 billion RON (56.4 billion Euro), and expenses, at 278.817 billion RON (61.7 billion Euro), resulting in a 24.1 billion RON deficit (5.3 billion Euro - 2.96 percent of the GDP).

The document points out that on the reference time frame there is estimated a deviation from the Medium-Term Budgetary Objective (MTO) established for Romania, namely 1 per cent of the GDP, the structural deficit for 2017 being estimated at 2.92 per cent of the GDP, in 2018, at 2.97 per cent of the GDP, and following a declining trajectory starting with 2019 and 2020.

"Even in the context of having this risk, the deviation from the MTO would occur in the conditions of keeping, during the entire planning time frame, a sustainable level of the public debt, under 40 per cent of the GDP," the report also says.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  3600 Views
Daily Info
evoMAG estimates 20 per cent sales growth at new school year start

Online retailer evoMAG announced the launch of the campaign 'Back to School' between August 22- September 3, and estimates a 20 per cent sales growth compared to the previous ...

Vienna Insurance Group posts 221 million Euro profit in the first half of 2017

Vienna Insurance Group reached a profit before taxes of around 221 million Euro (9.6 percent increase) in the first half of 2017, with all figures showing improvement, a press...

Commercial property investments in Romania reached 530 million Euro in the first six months

In H1 2017, the total volume invested in commercial property in Romania reached 530 million Euro, compared to 370 million Euro during H1 2016, a 43 per cent increase, accordin...

AFI Europe Romania posts increasing net operating income in H1 2017

AFI Europe Romania published its H1 2017 financial results, generating a Net Operating Income (NOI) from its income producing assets in Romania of 25 million Euro in H1, repre...

Bonds of Globalworth will start trading on Bucharest Stock Exchange on July 31

Bucharest Stock Exchange (BVB) informs that the bonds of Globalworth will start trading on the main market on July 31, 2017, and are defined by the following: 5,500 bonds, nom...

 
 
   
advertising

advertising

advertising

advertising

advertising

More on News
Over 19,000 business plans submitted for Start-Up Nation program

Start-Up Nation Government program attracted over 19,000 business plans and a new edition will take place next year, said Ilan Laufer, Minister for the Business Environment...

Sorin Grindeanu hails the support for CVM lifting before 2019

Prime Minister Sorin Grindeanu met at Victoria Palace with the European Commission President Jean-Claude Juncker. The meeting was also attended by the Public Finance Minist...

PM Sorin Grindeanu: 5.7 per cent economic growth - confirmation that the measures taken by the Government are the right

The 5.7 percent economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, an evolution which exceeds the expectations of analysts a...

President Iohannis to hold political consultation to designate future PM

Parliamentary parties are invited today to the Cotroceni Presidential Palace for consultations with President Klaus Iohannis over the designation of the future prime minist...

New law on ports administration would be very damaging for Romanian state budget, Fondul Proprietatea says

Fondul Proprietatea is concerned by the renewed steps to approve the draft law amending the Government Ordinance on ports administration, which was re-examined and approved...

EIB lends one billion euro to Romania for transport infrastructure projects

The European Investment Bank (EIB) is lending one billion Euro to co-finance with European Structural and Investment Funds priority transport infrastructure projects totall...

New trading symbol for Patria Bank shares on Bucharest Stock Exchange

Patria Bank shares, a credit institution that operates on the Romanian banking sector, are traded under a new symbol on the Bucharest Stock Exchange (BVB) market, following...