(Bloomberg) -- Go inside the global economy with Stephanie Flanders in her new podcast, Stephanomics. Subscribe via Pocket Cast or iTunes.
Romania's latest spending plans appear at odds with forecasts from the European Union.
Liviu Dragnea, the ruling-party boss and country's de facto leader, pledged Friday to improve living conditions and farming opportunities in poor northern and eastern villages by granting each household about 20,000 lei ($4,700).
“This year's budget allows us to offer this program,” he told a campaign event for the European Parliament elections in the town of Botosani, according to a ruling-party broadcast.
EU fiscal projections suggest otherwise. The European Commission predicts budget deficits of 3.4 percent of economic output in 2019 and 4.7 percent in 2020. Bloomberg surveys also suggest the bloc's 3 percent threshold will be breached both years.
Dragnea's spending promises come after thousands of people joined a protest in March demanding highways and better roads that bring investment and alleviate poverty.
To contact the reporters on this story: Andra Timu in Bucharest at atimu@bloomberg.net;Irina Vilcu in Bucharest at isavu@bloomberg.net
To contact the editors responsible for this story: Andrea Dudik at adudik@bloomberg.net, Andrew Langley, Michael Winfrey
©2019 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
