Finance Minister Tanczos Barna on Wednesday said that the budget deficit is currently within normal parameters, and Romania can stay within the 7% deficit target, provided that the forecasted revenues are achieved.

„The deficit, at the moment, is within normal parameters. We can stay within the 7% target if we can achieve the projected revenues. (…) In April, we even exceeded the target – we had over 50 billion lei in revenues from taxes, duties, and excise taxes,” the minister explained during the Romanian Business Leaders Summit.

However, he warned that month-by-month analyses can be misleading, given the fluctuating nature of some expenditures, such as interest payments.

Tanczos Barna also mentioned that reducing the deficit from 8.6% to 7% is a tough challenge under the current economic conditions, marked by the war in Ukraine and international trade tensions, but Romania has sufficient reserves to cover pensions, salaries, and key investments.

„It’s part of the Ministry of Finance’s regular activity to prioritize expenditures in order to stay within the 7% deficit,” the minister added.

Regarding potential changes to taxes in September or October, Tanczos pointed out that the current interim government must ensure the normal functioning of the state and continue paying pensions, salaries, and making investments until a new government is installed.

AGERPRES