PM Orban: Budget deficit is actually higher than 2.8% of GDP

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New Romanian PM Ludovic Orban has stated on Friday that the budgetary deficit is actually higher than 2.8% of GDP.

“We have been on the minimum level of investments in the past 10 years, we reached a historical low of public investments in the past decade. The budget deficit is high, 2.8% on ten months, but actually the budget deficit has been maintained under 3 pc on the account of the business environment. A trick they used is the postponement of the VAT reimbursements to companies. The outstanding amounts on VAT reimbursements mount to at least  RON 5 billion, meaning the past government has maintained the deficit using the money of the companies. Another trick they used was to not pay the works at the Transports Ministry or the Development Ministry,” Orban said at the National Top of Companies Gala.

Orban assured that his Cabinet will endorse the businessmen.

Our Government is pro business, will endorse the private initiative, will support investors and will take care that the business environment will flourish“, he added.

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