Romania Insider
Romanian Govt to pass “positive” budget revision “this week”

Romania’s first budget revision this year will be “positive”, meaning that all ministries that have planned major investments will receive the necessary amounts, finance minister Eugen Teodorovici told Radio Romania on Monday, August 5, local Mediafax reported.

The Finance Ministry was expected to present the details of the budget revision along with the set of corrective policies aimed at keeping the deficit this year under 3% of GDP on Monday. Both the details of the revision and the corrective measures envisaged circulated in the local media last week: fewer funds for transport, education, and health ministries but more money for social security and local authorities as well as several new taxes (on sugar and high “special pensions”, among others).

“Compared to what has circulated in the previous days, I can say that there will be a rectification, we hope positive, meaning that all ministries, those who have planned important investment projects and not only those, will receive all the necessary amounts so that, by the end of this year, they will implement [the projects],” Teodorovici said. As for the timing of the revision, he gave no deadline.

The Social Democratic Party's coalition partner ALDE (Liberal Democrats) have raised objections to the envisaged budget revision. ALDE president Calin Popescu Tariceanu made it clear that his party would not endorse the revision, if (as media reported) key ministries are not given enough funds.

“This week, we plan to approve this budget rectification and I think things are clarified, only the small details remain to be put to point,” said Eugen Teodorovici.

[email protected]

(Photo source: Gov.ro)

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Romania Insider
Romanian Govt to pass “positive” budget revision “this week”

Romania’s first budget revision this year will be “positive”, meaning that all ministries that have planned major investments will receive the necessary amounts, finance minister Eugen Teodorovici told Radio Romania on Monday, August 5, local Mediafax reported.

The Finance Ministry was expected to present the details of the budget revision along with the set of corrective policies aimed at keeping the deficit this year under 3% of GDP on Monday. Both the details of the revision and the corrective measures envisaged circulated in the local media last week: fewer funds for transport, education, and health ministries but more money for social security and local authorities as well as several new taxes (on sugar and high “special pensions”, among others).

“Compared to what has circulated in the previous days, I can say that there will be a rectification, we hope positive, meaning that all ministries, those who have planned important investment projects and not only those, will receive all the necessary amounts so that, by the end of this year, they will implement [the projects],” Teodorovici said. As for the timing of the revision, he gave no deadline.

The Social Democratic Party's coalition partner ALDE (Liberal Democrats) have raised objections to the envisaged budget revision. ALDE president Calin Popescu Tariceanu made it clear that his party would not endorse the revision, if (as media reported) key ministries are not given enough funds.

“This week, we plan to approve this budget rectification and I think things are clarified, only the small details remain to be put to point,” said Eugen Teodorovici.

[email protected]

(Photo source: Gov.ro)

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