RON 3.5 bln offered for the budget rectification

The Ministry of Finance (MF) asked the chiefs of public institutions to analyse once again the expenses increase demands for the budget rectification planned for the middle of this year, after it found out that they requested total funds worth RON 11.4 bln, 3.3 times more than the sum proposed by the MF, Mediafax reports. In the state budget for this year, total expenditures have been estimated at RON 112.6 bln, of which RON 6.1 bln are represented by the sums retained, according to the law, in a 10 pc proportion from the commitment and use until the end of the year.Without taking into consideration, now, the money retained until the end of the year, thus reporting itself to total state budget expenses currently estimated at RON 106.5 bln, MF proposes a supplementing of expenses by just RON 3.5 bln, based on the execution of budget incomes and expenses during the first five months of the year and on the necessity of salaries increased by 8 pc starting June. Thus, in the variant proposed by MF, the rectified state budget provides total expenses worth RON 110 bln and makes sure that the deficit target (2.2 pc of the GDP) agreed with the International Monetary Fund (IMF) will be met. Finance Minister Florin Georgescu said Wednesday that the first budget rectification of this year will be operated at the end of July or the beginning of August, after consultations with the IMF.

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