PM: Gov’t to assume responsibility for the fiscal measures by the end of the month

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Romanian Prime Minister Marcel Ciolacu claims that there will be no austerity, but on the contrary, there will be increased salaries, and by the end of the month the Government will assume its responsibility in Parliament on the package of fiscal measures.

“We continue to draft the normative act (regarding the fiscal-budgetary package – ed.). Then it will be put in transparency, as is normal. By the end of the month we finish the whole circuit, including the assumption of responsibility in Parliament. And let’s see if there is still a need for some additional ordinances. I waited and talked about the so-called austerity, but I saw in the normative act that salaries will increase and there is no austerity, explaining every time that Romania learned from the previous crisis, when a major mistake was made, cutting salaries to Romanians, indeed some who still have very high salaries, from my point of view, in the budgetary system cannot benefit from holiday vouchers, just like the almost 1.6 million Romanians who have the minimum wage in the economy, but I saw nothing of austerity,” PM Ciolacu said.

He specified that officials whose minimum salary exceeds 8,000 lei will no longer benefit from holiday vouchers.

The prime minister also explained that the first package that the minister will complete for me will be the one on combating tax evasion. “Then there will be the reform of the administrative system and we have a normal dialogue with the central administration and the social partners and the local administration. The third is the fiscal package, so that Romania is sustainable this year as well as in the years to come, until Romania comes up with a fiscal reform that is included in the PNRR as a milestone. You will see the package in 2-3 days, because no one will sneak it at night. There will be a minimum of 24 hours during which amendments are submitted to Parliament. He will respect the law and be transparent, because he will go through the Government of Romania, where he must receive the approvals. And with the banks (tax for the exceptional income of the banks – ed.) you will see in 2-3 days“, said Prime Minister Marcel Ciolacu, after participating in the anniversary event occasioned by the 30th anniversary of Philip Morris activity in Romania.

In his turn, the Minister of Finance, Marcel Boloş, stated on Tuesday that the term from which the fiscal facilities will be eliminated will be established in the governing coalition and will depend a lot on the way the budget deficit evolves, stating that, for three months, through measures taken, the Government managed to keep it stable.

Boloş also announced that, at present, together with the services of the European Commission, there is a correlation of the budgetary impact of the measures that will be taken. He mentioned that he hopes that these technical discussions will be closed as soon as possible, in order not to have a different budgetary impact than the one estimated by the European Commission.

Asked when the fiscal facilities will be eliminated, Marcel Boloş replied: “It is a term that will be established in the governing coalition and will depend a lot on the way the budget deficit evolves because three months, through the measures we have taken we managed to keep it stable and to have a certain prudent budget deficit policy during this period of time”. 

Also questioned how much the hole in the budget currently is. “2.66% of GDP is at the end of August, 43 billion lei”, Marcel Boloş said.

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