Florin Cîţu: Half of the budget deficit in 2020 represents the cost of the economic crisis

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Half of the 2020 budget deficit is the cost of the economic crisis, and this cost has two components, an increase in unforeseen budget expenditures, such as health or social assistance spending and a significant reduction in budget revenues compared to the initial estimate, said Finance Minister Florin Cîţu.

“In 2020, half of the budget deficit represents the cost of the economic crisis. To be clearer for everyone, half. And this cost has two components, an increase in unforeseen budget expenditures (health spending, social assistance, etc.) and a significant reduction of the budget collection as opposed to initial estimates. This is the reality that the Socialists in the Romanian Parliament, together with the lackeys around them, want to hide from the Romanians. And they pay a lot of money for it. They don’t stop and they don’t hide it anymore. They want to destroy Romania and are no longer interested of anything. They vote laws on the conveyor belt without funding sources just because they can,” Florin Cîţu wrote on Facebook on Tuesday, according to Agerpres.

He mentioned that he will continue to manage Romania’s finances with caution and responsibility in order to reduce as much as possible the negative impact of the economic crisis on Romania.

The execution of the general consolidated budget in the first six months of 2020 showed a deficit of 45.17 billion lei (4.17% of GDP), according to data published by the Ministry of Public Finance.

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