Fiscal Council

The new rectification draft bill envisages a larger deficit increase than originally thought. Thus, it would increase by 3.266 billion lei, previously (in the initial project) being about 3.224 billion lei. Basically, the authorities…

The year 2020 is critical for the budget construction during the 2020-2022 periods. The way of applying the pension law in 2020 has a decisive role for the 2021 budge, according to the preliminary opinion of the Fiscal Council on the State…

The Fiscal Council has criticised the Government's budget rectification draft, warning there are significant risks for a higher deficit target than the one assumed of 3 pc of the GDP. "In the absence of some credible compensatory…

Freshly appointed as Fiscal Council president, Daniel Daianu warns about ample corrections of the consolidated state budget with unknown consequences for the citizens and companies. “The need of ample corrections to the consolidated…

The Fiscal Council announced on Wednesday that Daniel Daianu, former non-executive member of the Board of Directors of the National Bank of Romania (BNR), has been elected president and Bogdan-Octavian Cozmânca has been appointed as…

The Parliament, in extraordinary session, has voted on Wednesday, by majority of votes that Mugur Isarescu will remain National Bank Governor for the 7th consecutive term. Isarescu has entered the Book of Records since 2009, as the longest…

The Governor of the National Bank of Romania, Mugur Isărescu, was unanimously endorsed on Tuesday for a new term in office, at the BNR helm, by the Budget Committees of the Chamber of Deputies and the Senate. The proposed members for the…

The latest version of the 2019 budget provides higher spending by more than RON 2 billion, as following the introduction of child allowances the deficit increases, according to the Ministry of Finance, to 2.76% of GDP. However, the Fiscal…

The 2019 draft budget is built on a series of excessively optimistic premises, starting right from the economic growth scenario, followed by the VAT receipts, excise duties, the dynamics of the employees or the gross wage in the competition…

The National Bank of Romania (BNR) officials have sent a moderate warning regarding recession, saying that economic growth is automatically followed by a downturn. Currently, we are on the edge in terms of foreign deficit, we import much…