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September 17, 2021

PM Ponta presents budgetary resources in state of the nation speech

PM Victor Ponta presented  the main budgetary resources, in view of the draft budget to be issued this month, during a state of the nation speech.

‘This money does not belong to the government, it’s the Romanians’ money and we are only administrators,” Ponta said. The Premier said he doesn’t want to attack the former governance, there are only sheer numbers.“We want fiscal and budgetary discipline. Promises beyond possibilities are not going to happen anymore. Focus on ways of how investments are made is to be laid.” Ponta further said.Estimated GDP for 2013 is EUR 140 bn, meaning EUR 7,000/capita. Budgetary deficit estimated to EUR 3 bn. State incomes – EUR 46 bn, state expenditures – EUR 49 bn. Each Romanian will owe more EUR 150 by the end of the year, Ponta stressed.Budgetary deficit is to be covered from internal and external sources.Public debt peaks to EUR 51 bn, meaning EUR 2,500/capita. Four years ago the debt was EUR 28 bn, the premier said.Public debt peaks to EUR 51 bn, meaning EUR 2,500/capita. Four years ago the debt was EUR 28 bn, the premier said. The public debt represents 34.7 per cent of GDP.Expenditures this year: EUR 10.2 bn as salaries; EUR 11.1 bn for pensions (there are over 6 million pensioners in Romania); EUR 7.8 investments (one third coming from European funds); EUR 7.6 bn for state institutions; EUR 4.4 bn for social assistance; EUR 2.5 bn interests; EUR 1.1 bn subventions; EUR 1.4 bn for EU budget; EUR 2.9 bn – other expenditures.Agriculture will benefit in 2013 of EUR 3.8 bn, the health system – EUR 6.2 bn. ‘In 2012 we met almost all criteria set with the foreign partners – IMF, WB, EC,” Ponta said, adding Romania is on first place in 2012 as effort for budgetary adjustment among European countries. For the first time since 2007 we met the deficit limit, the premier further said. In 2013 parliament is to remain at the same level of budget as in 2012. Starting March 31 we will proceed to reducing the staff in governmental institutions, Ponta said.

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