ZRP Schoenherr
Tuca Zbarcea & Asociatii

FinMin Citu: Romania’s full-year economic contraction will be between minus 2 and minus 3 percent

02 Iulie 2020   |   AGERPRES

Referring to the impact of the four months of pandemic on the budget, the Finance Minister said that budget revenues this June have been higher than in the year-ago period.

 
 
The second quarter's negative impact on the Romanian economy was worse than anticipated, but the full-year economic contraction will be between minus 2 and minus 3 percent, Public Finance Minister Florin Citu said on Wednesday evening.

"For the budget revision, the National Prognosis Commission will come up with a new estimate, and they might change their initial projection of minus 1.9 percent. It is true that the second quarter had a slightly higher negative impact than we expected, but not by much. We are steering clear of those apocalyptic estimates that predicted an economic decrease of minus 6, minus 8, or even minus 9 percent. We won't get there. I think that [the contraction] will be somewhere between minus 2 and minus 3 percent," Citu told broadcaster Antena 3, adding that the budget revision will be operated in the second half of July.


Referring to the impact of the four months of pandemic on the budget, the Finance Minister said that budget revenues this June have been higher than in the year-ago period.

"Tax-wise, the economy starts recovering in June and we see budget revenues exceeding last year's revenues. The estimates I have show that tax revenues are higher year-over-year, and this despite VAT refunds higher than last year, despite higher sick leave payments. Today we also announced savings in interest costs, which are lower year-over-year. ... Overall, the second quarter is an economically negative, difficult quarter. I have always said that the economic recovery - and June numbers give me hope here - will start in the third quarter and we stay with the V-shaped economic recovery scenario," said the Finance Minister.

Florin Citu also announced that money will be allocated at the budget revision for works on several sections of the Sibiu - Pitesti motorway to start this year.

"There have always been budget earmarks for the Sibiu - Pitesti motorway, but at the revision that money was transferred to other objectives, much more important in the short term, which were usually not related to investments. I tell you that this year we will start these important sections of the Sibiu - Pitesti motorway and the Transport Ministry will get the necessary allocations at the budget revision. Of course, the rest depends on how this will be implemented, but the Transport Minister too announced today that our goal is to allocate 2 percent of GDP for infrastructure in the budgets of the following years," Citu said.

The National Investment and Economic Recovery Plan unveiled on Wednesday by the government of Romania provides for the construction, in the coming years, of over 407 kilometers of motorway and express roads worth 4.3 billion euros, while works on approximately 3,000 km of motorways and express roads for the connection of Romania's historical provinces and with the pan-European transport networks will be started in the period 2020 - 2030.
 
 

PNSA

 
 

ARTICOLE PE ACEEASI TEMA

ARTICOLE DE ACELASI AUTOR


 

Ascunde Reclama
 
 

POSTEAZA UN COMENTARIU


Nume *
Email (nu va fi publicat) *
Comentariu *
Cod de securitate*







* campuri obligatorii


Articol 1475 / 3964
 

Ascunde Reclama
 
BREAKING NEWS
ESENTIAL
Firma independentă de avocatură MPR Partners deschide primul birou în Marea Britanie | Alina Popescu, coordonatoarea biroului londonez: Identificăm o multitudine de oportunități în Londra și sperăm să începem să angajăm pe plan local cât de curând. Gelu Maravela, partener co-fondator: Realizăm importața majoră a inovației, a proiectelor transfrontaliere, a prezenței locale și a accesibilității
Stratulat Albulescu își extinde practica de Drept Societar ̸ Fuziuni și Achiziții prin cooptarea a doi avocați colaboratori seniori
Avocații NNDKP, alături de Globalworth în extinderea activității industriale a grupului în Arad și Oradea. Partenerul Lavinia Ioniță-Rasmussen a coordonat echipa
Albotă Law Firm a asistat Atenor la acordul de vânzare a Hermes Business Campus. Echipa de proiect a fost coordonată de Oana Albotă
Schoenherr și Asociații a asistat Risen Energy Solar Project GmbH în vânzarea unui parc fotovoltaic de 20 MW către Alternus Energy Group plc
Cum comentează specialiștii în insolvență de la Mușat & Asociații modificarea legislației. Proiectele gestionate anul trecut au generat profit substanțial, iar avocații anticipează că o creștere semnificativă se va înregistra în continuare în materia insolvenței și preinsolvenței | Cristi Tudor, Partener: Ne așteptăm ca serviciile noastre de asistență și analiză pe perioada unui management de criză să fie la mare căutare
Bondoc si Asociații, succes în recurs într-un litigiu complex cu privire la fonduri europene. Partenerul Viorel Dinu a coordonat echipa
LegiTeam: POPESCU & ASOCIAȚII recrutează asistent ̸ ă | secretar ̸ ă recepție
Numiri noi pe poziții de coordonare la Kinstellar București | Magdalena Răducanu (ex-Dentons) se alătură cu titlul de Of Counsel și Coordonator al departmentului local de Banking & Finance, iar partenerul Zsuzsa Csiki va prelua conducerea departamentului local de Corporate M&A
LegiTeam: CMS is looking for an Associate | Banking&Finance Practice Group
LegiTeam: CMS is looking for an Associate | Corporate and M&A Practice Group
Țuca Zbârcea & Asociații a asistat BRF în vânzarea Banvit Foods Romania către grupul de companii Aaylex | Partenerul Silvana Ivan a coordonat echipa. Rafael Pellegrini Ribeiro (BRF): Silvana a preluat sarcina de a ne reprezenta pe plan local și a contribuit decisiv la finalizarea acestei tranzacții
 
Citeste pe SeeNews Digital Network
  • BizBanker

  • BizLeader

      in curand...
  • SeeNews

    in curand...