August 25, 2017 / 11:46 AM / 6 months ago

Romanian government to present 2018 budget plan in September

BUCHAREST (Reuters) - Romania’s government will present both a budget plan for 2018 and a revision for this year in September, which would also clarify tax plans, Prime Minister Mihai Tudose said on Friday.

“To keep the governing act coherent, we have agreed that within two-three weeks we will have the budget draft,” Tudose told reporters. “We will file it in parliament in October, as well as all the needed legislative measures, to avoid a situation where we find out in January that we needed to pass laws in 2017 to enforce the budget.”

The finance ministry has said it aims to cut social security contributions and the income tax, raise excise duties on fuels and a slew of other measures. It aims to keep the budget deficit below the European Union’s 3 percent of GDP ceiling.

However, the European Commission expects Romania to run the bloc’s largest deficits this year and next.

Reporting by Luiza Ilie

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