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Bucharest
September 18, 2021
BUSINESS

Gov’t cuts 2012 investment allocations by up to RON 2 bln

Domestic budgetary investment allocations will drop next year by RON 1.3-2 bln from 2011, although Government hopes to offset the cut with a nearly 50 pc rise in European funds, Mediafax reports. The 2012 draft budget stipulates investment spending matching RON 37.8 bln, 6.5 pc GDP, up RON 2.4 bln from this year’s RON 35.4 bln. Over RON 18.3 bln of the amount budgeted for investments next year will go into projects co-financed with the EU, while the direct funds from the European Union add up to RON 11.6 bln, according to data published by the Ministry of Public Finance. Domestic investment spending amounts to RON 26.2 bln. Budgetary investment spending equals RON 35.4 bln this year, of which RON 13.7 bln account for co-financing EU projects. Direct EU funds absorbed for investment spending is put at RON 7.9 bln, while local investment funds total circa RON 27.5 bln. Annual breakdowns show domestic investment spending will fall RON 1.3 bln in 2012, from RON 27.5 bln to RON 26.2 bln.

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