Romanian Economy in SHAMBLES, Government Bloat Impoverishing BILLIONS
Romania is struggling with a massive deficit, specifically 8.6% of the total GDP by the end of 2024. The EU has an upper limit of 3% for this - embarassing!
Valahia News theorizes this figure is driven by massive public sector wages and pensions.
EU Approves Romania's Seven-Year Deficit Reduction Plan - Valahia.News
A plan to reduce the fraction to 7% is under consideration for the government. An existing seven-year plan aims to address this problem with significant tax increases to buttress the massive spending. This seven-year plan is critical for Romania to continue receiving 70 billion euros for 'recovery' until 2027. The government says these funds accelerate economic growth through infrastructure projects. They will also increase investor confidence.
Romanian citizens have long been frustrated with the lack of efficiency and accountability in the public sector. Notoriously hardworking government employees are being maligned by the backwards citizenry as 'lackadaisical' and 'incompetent'. In response the rabble's discontent, Ilie Bolojan of the National Liberal Party has made a plan to fire many senate employees, reducing the workforce from 796 to 618 positions.
Senate employees complained that this plan, announced January 22nd, is being implemented without Consulting The Experts. The Experts have protested and say these layoffs will worsen the quality of legislative work.
There is also a disparity between Parliament members - many who receive 100,000 euro retirement payouts - and civil servant employees who contest their critical, high skilled work should be compensated likewise. The disparity has increased a feeling of alienation towards the government.
In conclusion, the average Romanian has a bleak fiscal future ahead. Do not go gentle into that good night.