Romania's Finance Minister: Draft budget for 2016, ready by December 10

Next year’s state budget has been drafted taking into consideration a deficit of 2.95% of the GDP, said yesterday the Finance Minister Anca Dragu. The new Government plans to send the draft budget to the Parliament by December 10. The revenue and expenditure limits are about the same as those announced by the previous Government, Dragu added, reports local Profit.ro. The new budget has included the measures taken by the previous Government, including the VAT cut, which will enter into force starting next year, as well as the salary increases in the public sector, namely 25% for the health sector, 15% in education, and 10% for public administration. The Government has decided to keep the fiscal relaxation measures, because abandoning them would have been very bad news for the business environment. “We want to ensure stability and predictability because only in this way can we ensure long-term growth,” Dragu added. editor@romania-insider.com