RRI Live!

Listen to Radio Romania International Live

Economic results for 2018

Romanias economic performance in the first quarter of 2018 is better than last year, says the Government

Economic results for 2018
Economic results for 2018

, 09.05.2018, 13:24

Openly at odds with the Government formed by the Social Democratic Party and the Alliance of Liberals and Democrats, the right-of-centre President Klaus Iohannis Monday called on PM Viorica Dancila to step down, for the second time in just a few days. This time around, the President spoke about what he regards as the economic under-performance of the current Cabinet, the third appointed by the Social Democrats since they won the parliamentary elections in December 2016.



Klaus Iohannis says the public budget is subject to tremendous pressure, as overall expenditure is rising, and the evolution of public finances is completely inadequate. He also criticised the Government for failing to implement major investments and to turn the economic growth into an increase in revenues.



Klaus Iohannis: “After nearly one and a half years of Social Democratic rule, with this highly questionable salary increase charade, we have no roads, no highways, no schools, no hospitals. What the Social Democrats really do is mortgage the future of this country. They raise salaries and pensions and disregard important investments in infrastructure, or investments required for the development of the country.



The Government was quick to respond. On Tuesday, deputy PM Viorel Stefan presented information on the budget implementation in the first months of 2018. According to him, the economic parameters for the first quarter are higher than in the corresponding period of 2017. Budget revenues went up by nearly 12%. Last month alone, the Fiscal Agency collected 17% more money than in April last year. As for the budget deficit, the deputy PM says that most of the funds were earmarked for investments, which amount to double the sums allotted last year.



Viorel Stefan: “Four months into the year, we notice that the revenues to the general public budget amount to over 19 billion euros. Compared to the corresponding period of last year, this means an 11.8% increase. This figure includes both the amounts collected by the Fiscal Agency, and those brought in by operations run by other public institutions.



The confidence of the Government is based, among other things, on international economic reports. The latest one, made public by the World Bank, says Romanias economy will continue to grow in 2018, by up to 5.1%.



Still, the war between President Klaus Iohannis and the Social Democratic Party shows no sign of being over. On the contrary, both sides seem to fuel it, with deputy PM recently claiming that between 2014 and 2017, the only year when public revenues dropped was 2016, when Romania was ruled by a cabinet of technocrats that President Iohannis more than once described as being “his own.


(translated by: Ana-Maria Popescu)

Foto: Tumisu / pixabay.com
Today in the News Tuesday, 18 February 2025

Central Bank Report on Inflation

The National Bank of Romania has increased its inflation forecast for the end of this year to 3.8%, from 3.5% previously, according to the...

Central Bank Report on Inflation
Conferinţa de Securitate de la Munchen (Foto:
Today in the News Tuesday, 18 February 2025

Europeans are closing ranks

In a few days, it will be three years since Moscow’s invasion of Ukraine. Three years after which it’s difficult, if not impossible, to...

Europeans are closing ranks
Photo: Matthew Henry/ unsplash.com
Today in the News Monday, 17 February 2025

Will the cap on energy prices stay on?

  After the energy market was deregulated on January 1, 2021, in the midst of the Covid-19 pandemic, Romania was among the European countries...

Will the cap on energy prices stay on?
photo: Hans /pixabay.com
Today in the News Monday, 17 February 2025

Genuine winter in Romania

  The weather conditions in mid-February bring the first spell of genuine winter in several parts of the country. The National Meteorological...

Genuine winter in Romania
Today in the News Friday, 14 February 2025

The priorities of Romania’s interim president

Acting as the country’s president for the next 100 days, Ilie Bolojan on Wednesday signed the first decree as head of state, namely to appoint the...

The priorities of Romania’s interim president
Today in the News Friday, 14 February 2025

Russian drones crash in Romania

The Foreign Ministry in Bucharest is firmly condemning the latest irresponsible attack of the Russian troops, after two drones with explosive...

Russian drones crash in Romania
Today in the News Thursday, 13 February 2025

Hand-over in the President’s Office

Klaus Iohannis on Wednesday ended his second and final term in office as president of Romania. Senate speaker and National Party leader Ilie Bolojan...

Hand-over in the President’s Office
Today in the News Thursday, 13 February 2025

Organized Crime Report

In 2024, Romania was targeted, along with other European states, by ‘sabotage’ actions and hybrid attacks specific to Russia, with the...

Organized Crime Report

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company