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Kovid-19: Romania’s budget measures in the weakest parts of the European Union

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In the context of the pandemic decided by the Romanian government last year, the budget measures to support the economy are the weakest in Europe. According to Profit.ro’s calculations based on data provided by the Association of Independent Tax Bodies, Slovakia was the only country to have the same level.

Dimensions Budget liThat’s itRomania’s Covid-19 had a negative impact of 2% on last year’s budget deficit, compared to an average of 5% of GDP in Europe.

There are significant differences between the 27 states included in the report. Thus, the United Kingdom is 13% of GDP, Greece and Ireland – 8% of GDP, and Slovenia and Hungary 7% of GDP.

The countries with the weakest measures to support the economy are Romania and Slovakia (2% of GDP).

This year’s impact is estimated at 1% of Romania’s GDP, up from the European average of 4%.

Estonia is the only country to spend less this year (0.7%) to support the economic recovery. Greece will provide the most significant support to the economy, accounting for about 9% of GDP by 2021.

Its impact on Denmark and Ireland will be 8% and 7% of GDP, respectively.

Represents Romania in the Tax Council Association. All EU countries (except Poland) and the United Kingdom are members of the Association of Independent Tax Bodies.

Source

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