Romanian 2019 budgetary deficit at 4.6% of GDP

Mihai-Alexandru Cristea 28/01/2020 | 14:31

Romania’s budgetary deficit in 2019 was recorded at 4.6% of GDP, the highest figure in the last 9 years, according to data from the Ministry of Public Finance, presented by HotNews. The figure stands at 0.2% above the predictions in last year’s budget amendment.


The difference comes from two unexpected events which occurred at the end of last year, the debt settlement to the Micula brothers (LEI 0.9 billion) and lower equities from state-owned companies (LEI 1.3 billion less), Finance Minister Florin Citu explained, naming Hidroelectrica as one of those companies, pending further checking.

Another factor came in December 2019, when LEI 1.3 billion was spent on capital expenditure and operating costs of territorial-administrative units. The widening gap between the 2.8% deficit of 2018, to 4.6% in 2019, was caused by a fall of 0.1% in total income, and a rise of 1.7% in total expenses.

The 2019 budget initially had only a 2.76% deficit in goal, set by the former Social Democratic government, but this figure was already reached by the end of October, just before the new Liberal government was installed.


Photo: Twitter/Ministerul Finantelor Publice

BR Magazine | Latest Issue

Download PDF or read online: November 2022 Issue | Business Review Magazine

The November 2022 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “Samsung Remains Top Consumer Tech Provider on Romanian Market.” Read
Mihai-Alexandru Cristea | 29/11/2022 | 10:17

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of
    I agree with the storage and handling of my data by
    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue