12.6 C
April 20, 2021

First budget rectification in early August

The Government will operate this year’s first budget rectification in early August, having as a main priority the allotment of supplementary funds to investment programs, particularly those run by the Ministry of Transports and Infrastructure, PM Emil Boc stated on Friday in Cernavoda, Mediafax reports. Official sources stated, in mid-July, that the Executive would rectify the budget after the closing of the International Monetary Fund (IMF)’s evaluation mission.

“The redistribution of funds to the ministries will be based both on expense needs and on the first half-year execution of investment projects. Funds initially allotted to projects now lagging behind schedule can be redirected to other projects, with better completion odds, and ministries which were unable to complete the investments will lose the funds,” the sources argued.

After the first half of 2011, the general consolidated budget deficit amounted to RON 11.3 bln, the equivalent of 2.07 pc of GDP, below the RON 12.6 bln-target committed to in the letter accompanying the IMF agreement.

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