The 2025 budget, approved in February, comes after a hectic period and after a deficit rarely seen in the European Union (EU), but by 2031 we will return to 3%, Finance Minister Barna Tanczos said on Tuesday at the PRIA Finance for Keys Business Sectors conference.
„The Ministry of Finance indeed proposed a budget in January. The budget was approved at the beginning of February and now we are in the implementation stage of this budget. A budget that comes after a rather hectic period in Romania, with multiple elections in 2024. Moreover, we can say that it was a deficit that rarely occurs in a country in the European Union and from this is where this fiscal-budgetary system needs to recover from and get on a trend of deficit reduction. And not only because we have an agreement with the European Commission on this system of deficit reduction from 7% to 3% by 2031, but we also have those elements of macro-stability, prudential, positive outlook, sustainability. Otherwise, it is practically hard to imagine that this balance can be maintained in the medium and long term. In concrete terms, what we are doing now is to control expenditure at the relevant ministries and the main authorizing officers, so that no one goes beyond the budgetary ceilings and the monthly quarterly ceilings, so that we can gradually reduce operating expenses and so that we can offer more to those who pay taxes,” said the Finance minister.
According to him, a complex fiscal-budgetary ecosystem works if „every cog is turning properly”.
In the Finance Minister’s view, one of the most important objectives this year is to collect revenues to the budget, as well as to reduce tax evasion and the VAT gap. The Minister emphasized that the intention is to expand the range of revenue collection and not to carry out repeated checks on the same companies.
According to the head of Finance, as far as the circular economy is concerned, things need to move forward with the financing for recycling factories.
Minister of Finance Barna Tanczos and representatives from the financial, industry, health, construction, circular economy, environment and automotive sectors will analyze, on Tuesday, the most important issues for ensuring macroeconomic balances, strengthening resilience and increasing competitiveness at the PRIA Finance for Keys Business Sectors event.
AGERPRES
