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Romania’s 2010
\nstate budget bill is back in parliament because,
\naccording to president Klaus Iohannis, the macroeconomic framework on which it
\nwas based is devoid of the realism needed for a credible budgeting. <\/p>\n
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Romania’s 2019
\nstate budget should have been passed and promulgated four months ago. However,
\nit is still circulating and at the core of major disputes between the Government
\nformed by the Social Democratic Party – Alliance of Liberals and Democrats
\ncoalition on the one hand and the country’s president on the other. <\/p>\n
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The bill reached
\nparliament quite late, in February, and it was then sent by the president to
\nthe Constitutional Court. Despite the latter’s ruling, according to which the
\nbill was constitutional, the president decided to send it back to Parliament,
\ndescribing it as a ‘budget of national shame’. The budget was built on a
\nfantasy scenario, with no guarantees for a proper implementation, a fact which
\nhas been confirmed by European and international institutions, says Klaus
\nIohannis, supported by the right wing opposition. <\/p>\n
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Presidential
\nadvisor Cosmin Marinescu, which has presented the presidency’s arguments, has
\nstated that many other economies, partner to Romania’s, are already facing
\nslow-downs, and recent assessments conducted by agencies in the field show that
\nforecasts showing negative prospects are expected to follow. He has stressed
\nthe fact that revenues are overestimated in the bill by some 2.1 billion Euros,
\naccounting for 1% of the GDP, which is quite a lot as to the estimated budget
\ndeficit. <\/p>\n
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Also, budget
\nanalyses have revealed underestimations of expenditures and even deliberate
\nnegative adjustments, as it happens in the case of pensions. According to the presidential administration,
\nthis is a budget that questions the observance of the international treaties
\nthat Romania is a party to, as well as the legislation in the field, a budget
\nthat was devised to cater to the political interests of a group. <\/p>\n
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According to the
\nSocial Democratic Party, however, the 2019 budget was built carefully and
\nrigorously, and the head of state’s attitude is affecting the functioning of
\nall institutions. The Social – Democrats
\nsay that the budget ensures all the necessary resources for all the major
\nsectors of the economy that the bill is a revolutionary one, aimed at
\nsupporting health-care and education, and the president’s trying to delay it is
\na matter of political bias. <\/p>\n
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Through the
\nVice-President of the Chamber of Deputies Florin Iordache, the Social Democrats
\nhave already announced that they will submit the budget bill to Parliament for promulgation
\nin the same form as it was initially adopted by Parliament, namely based on an
\neconomic growth rate of 5.5% and a GDP of some 200 billion Euros. <\/p>\n
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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