Eugenia Gusilov discussed last week with Gabriela Mihai at B1.ro about how the events of March and April are sufficient to set the global economy on crisis mode.

Vacation plans, potentially affected by higher airline ticket prices, are a small price to pay compared to disruptions in logistics supply chains. The discussion also covered the concepts of destroyed demand versus deferred consumption.

Toward the end, the conversation addressed how fiscal space can be created by cutting extravagant expenses. Gabriela Mihai noted the notable salary increases for constitutional court judges, alongside other unusual bonuses found in public institutions, such as special allowances in local county councils and administrative bodies.

Consequently, the Romanian state still has significant room for expenditure cuts, as the existing savings potential has barely been scratched.