The government foresees an economic growth of 3.4% for 2024

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Romanian Prime Minister Marcel Ciolacu declared on Thursday, at the beginning of the government meeting, that in 2024 Romania will have an economic growth of 3.4%, the second highest in the European Union. He added that 2024 will be the “year of investments”, considering that “a record amount” of 120 billion lei was allocated for such projects, totaling over 7% of GDP.

“We will complete all the reforms we committed to and we will continue to meet the milestones in the PNRR. This will allow us to have an economic growth of 3.4%, the second highest economic growth in the EU. We will do this because this year will be the year of investments. We have allocated in the budget a record amount of 120 billion lei for investments, i.e. over 7% of GDP. This year investments will contribute half to economic growth. Otherwise, in 2024 we will focus on the measures to increase domestic production. We have two strategic areas, construction and agriculture, in which we will invest massively. I am glad that in the INVESTALIM Program we already have projects of 1 billion euros and I hope that the same thing will happen with ConstructInvest“, said the prime minister.

He specified that the reform of the budget apparatus will be one of the priorities of his mandate and emphasized that it is about “the most ambitious reform of the budget apparatus” in the last 30 years. The process of reorganization of ministries and state institutions is in full swing, and this will bring substantial reductions in expenses. We will take the saved money where it is needed, that is, to health and education. The year 2024 must continue in the same direction, said the prime minister.

Marcel Ciolacu also declared that in 2023 Romania had “the highest economic growth in the region, in very difficult conditions“. At the same time, he referred to the latest forecast of the European Commission, according to which ten countries in the European Union will face economic decline, and 12 member states have “significantly” exceeded their deficit targets.

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