Romania: New budget approved by President Iohannis. It reflects an optimistic economy.

President Klaus Iohannis on Thursday announced having promulgated the 2017 national budget law and the social security law.

“I have decided today to promulgate both the national budget law and the social security law, and I have done it. The country needs a budget, and the Government that has pledged to implement the budget will now have the possibility of proving how to do that,” Iohannis told journalists at the Cotroceni Presidential Palace.

He cautioned that the Government’s approach of this budget is hyper-optimistic.

“As I promised earlier this week, I analysed the national budget and the social security budget. My deep analysis confirmed all that I said last time: government revenues are optimistic, as some say, but I call them overvalued; outlays are very large, which makes this a hyper-optimistic view of the budget that becomes noticeable when comparing last year’s aggregate revenues with this year’s exactions, with a 14-percent rise but no explanation for such a phenomenal 14-percent increase; 14 percent is a lot for the aggregate budget. At the same time, it has been confirmed the existence of commitments in excess of 50 billion, which is previously unheard of,” said Iohannis.

He added he expects the Government to be responsible.



Source: Presidential Press Conference.

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