Romania Growth to Exceed 5.2%

Romania will meet its budget deficit target of 3% of GDP this year and it is possible that the economy’s advance will exceed the official estimate of 5.2%, supported by wage increases and tax cuts, Finance Minister Viorel Stefan said in an interview with Reuters. He added that the government will introduce the fiscal relaxation measures, which were mentioned in the governing program, starting January 2018. Next year the government wants to reduce the number of social insurance contributions from nine to two, for pensions and healthcare. They will total 35% of the gross wage.