Where we have found a slight decline that threatens the budget deficit is in the area of ​​social insurance contributions, said Marcel Bolosh, Minister of Finance.

“We are analyzing the reasons and the measures we need to take to achieve the budget deficit target,” he said.

• “We have a commitment to the EC, which we took through the convergence program of 4.4% of GDP. Any overstepping of that goal has consequences we know.”

“We are trying to have a reasonable deficit target in order not to risk EC decisions that confuse the implementation of European funds,” said the Minister of Finance.

What expenses cannot be predicted by the Ministry of Finance

He argues that there are costs that they often can’t predict, “like the interest costs that we have to pay when there are quite long maturities for what the national debt is.”

“Including the payment of energy compensation can cause us a headache. I can assure you that we have the necessary money for these expenses, but you know how it is, even if you have the necessary money, everything is visible through the indicator of analysis, which is the budget deficit,” Bolosh explained.

• “It’s read every month we launch it. From this moment, the trial begins for what we did and did not do.”

According to him, a discussion was held with the European Commission and the planned deficit goal of 5.5% of GDP was presented.

“I would like to respect the obligations to the European Commission. We are directing all our efforts to this,” said Bolosh.

• “I don’t think anyone can give guarantees today that the deficit target of 4.4% of GDP will be what we will have at the end of December. In discussions with the EC, a goal of 5.5% of GDP was proposed.”

The IMF estimates a budget deficit of 6% in 2023 and 5% in 2024.